starting a partnership firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 January 2010
is it possible to start a partnership firm with a minor (i.e, one mojar & 1 minor)?
21 January 2010
A person who is a minor according to the law to which he is subject may not be a partner in a firm, but, with the consent of all the partners for the time being, he may be admitted to the benefits of partnership. [section 30(1)].
21 January 2010
agree
CA Amit Kumar Hallen
(Expert)
21 January 2010
The Indian Contract Act does not allows a minor to enter into a contract. On the whole, a minor become a member only the consent of all other partners received. But in this case there is only one major partner and one minor partner. Hence partnership can not be formed
21 January 2010
Moreover, cannot start a partnership with one minor + one major.
Ankur Garg
(Expert)
22 January 2010
NO
CA Ravi Sisodia
(Expert)
22 January 2010
not possible
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