Can a minor be admitted in a Partnership firm?
a Minor can be admitted ONLY FOR THE BENEFITS ( i.e, for profits only and not for losses)
Minors have no contractual capacity. He cannot bind other partners or the firm but they
can be partners for sharing profits only. Consent of all the existing partners necessary to
admit minor as such a partner. However, on attaining majority, he may choose to
continue his partnership or quit by giving a proper public notice.
a Minor can be admitted ONLY FOR THE BENEFITS ( i.e, for profits only and not for losses)
Minors have no contractual capacity. He cannot bind other partners or the firm but they
can be partners for sharing profits only. Consent of all the existing partners necessary to
admit minor as such a partner. However, on attaining majority, he may choose to
continue his partnership or quit by giving a proper public notice.
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