Question

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Ques➡️ Compare the status of minor in a Joint Hindu Family with that in a partnership firm.
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Answer 1

Answer:

In a Joint Hindu Family Business, minor becomes member of HUF as soon as he takes birth in HUF but in partnership firm, minor cannot become a partner in any firm because he is incompetent to enter into a valid contract with others. However, he can be admitted to the benefits of a partnership firm with the mutual consent of all other partners.

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Answer 2

$\huge{Question}$

Compare the status of a minor in a Joint Hindu Family Business with that in a partnership firm.

$\huge{Answer}$

When the inclusion of an individual into the business occurs due to the birth in the Hindu Undivided Family (HUF) is known as Minor. On the other hand, partnership is based on legal contract between two persons who agree to share the profits or losses of a business carried on by them and a minor is incompetent to enter into such a valid contract with others. Hence, a minor cannot become a partner in any firm. However, a minor can be admitted to the benefits of a partnership firm with the mutual consent of all other partners.

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