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Partnership

Rohin singh (Article) (63 Points)

02 June 2018

Can there be a partnership firm with two partners out of which one is minor partner??

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5 Replies

CA Mayur Todmal (Practicing CA) (7756 Points)
Replied 02 June 2018

minor can not form partnership , but he can be admitted as partner with the consent of all partner .

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CA Mayur Todmal (Practicing CA) (7756 Points)
Replied 02 June 2018

i think section 30 of Indian Partnership Act says this

Rohin singh (Article) (63 Points)
Replied 02 June 2018

IF THERE ARE TWO PARTNERS.,.,ONE IS RETIRING AND MINOR IS ADDED.,,IS IT POSSIBLE??

Rohin singh (Article) (63 Points)
Replied 02 June 2018

IF THERE ARE TWO PARTNERS.,.,ONE IS RETIRING AND MINOR IS ADDED.,,IS IT POSSIBLE??

Sana Sultana Mussu (Student) (5119 Points)
Replied 03 June 2018

Basically partnership firm cannot be formed with a minor
so in your first question minor cannot be a partner and in your second question where already a firm is existing then he can be added as a partner if all the partners accepts.. and such minor partner will not be personally liable for any losses but .he will be entitled for benefits of the firm .. so yes its possible if one is retired and minor is admitted