Multiple choice

The liability 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 as that of any other partner in the firm

  3. is more than that of any other partner in the firm

  4. is unlimited
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A Correct answer
Explanation

When a minor is admitted to the benefits of a partnership, their liability is confined to their share of profits and property in the firm. Under Section 30 of the Indian Partnership Act, a minor cannot be a regular partner but can be admitted to benefits of the firm. Their liability is limited - they are only responsible up to the extent of their capital contribution and profit share in the firm. They do not face unlimited liability like adult partners, protecting them from excessive financial exposure.

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