Question

which form of business organisation gives all the rights to a minor member

Answer 1

Joint Hindu Family give all the right to a minor member.male minor child become its member right after his birth in the family. The minor enjoys an equal ownership right over the inherited property .

Answer 2

Explanation:

“Joint Hindu family business” is an organization which gives all the rights to a minor member. “Joint Hindu family business” is the form of business organization that is only found in ‘India’.

‘Joint Hindu family business’ is a business that is owned by members of a joint Hindu family. It is also called Hindu Undivided Family Business. This form of organization works under the Hindu Act and is controlled by the succession act.

The merits and demerits of ‘Joint Hindu family business’ are as follows:

Merits:

1. Organization facilities.

2. Continuity of work.

Demerits:

1. It is limited to a joint Hindu family.

2. Relatively limited capital.

3. Limited managerial capacity.

4. Unlimited liability of the subject.