Multiple choice

Which of the following statements is not true about a minor's position in a firm?

  1. He cannot become a partner in an existing firm.

  2. He can become a partner in an existing firm.

  3. He can be admitted only to the benefits of any existing major.

  4. He can become partner on becoming a major.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A minor CANNOT become a full partner in a firm because they lack contractual capacity (Indian Contract Act, Section 11). They can only be 'admitted to the benefits of partnership' - meaning they receive profit shares without liability for losses or debts. Only upon attaining majority (18 years) can they become a proper partner. Statement B claims they CAN become a partner, which is false/NOT true.

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