Question

What is the position of a minor in a partnership firm?

Answer 1

Every minor partner has a right to such share of the property and of profits of the firm as may have been agreed upon. Every minor partner has a right to have access to and to inspect and copy any of the accounts, but not books of the partnership firm.

Answer 2

A minor is not a person competent to contact as prescribed under Contract Act. A partnership firm is the organisation created with agreement between the partners of same. Therefore, a minor cannot become a partner at the firm.