Multiple choice

The liabilities of a minor when admitted to the benefits of the partnership

  1. is confined to his share of the profits and property in the firm

  2. is same as that of any other partner in the firm

  3. is similar as that of any other partner in the firm

  4. is unlimited
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A Correct answer
Explanation

Under Section 308 of the Indian Partnership Act, a minor admitted to partnership benefits has their liability limited to their share in profits and firm property. They are NOT liable for partnership debts beyond this, unlike other partners who have unlimited liability.

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