Minor partner
This query is : Resolved
12 October 2014
Sir, any minor partner can be partner in any firm?
12 October 2014
As per Section 11 of the Indian Contract Act, 1872 a minor cannot enter into an agreement. However Section 30 of the Partnership Act 1932 provides that with the consent of all the partners for the time being a minor may be admitted to the benefits of Partnership. This provision is based on the rule that a minor cannot be a promisor but he can be a promisee or a beneficiary.
Please read section 30 of the Partnership Act 1932 from link given below:
Link: http://www.mca.gov.in/Ministry/actsbills/pdf/Partnership_Act_1932.pdf
Please read section 30 of the Partnership Act 1932 from link given below:
Link: http://www.mca.gov.in/Ministry/actsbills/pdf/Partnership_Act_1932.pdf
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