Multiple choice

According to Section 30 of the Partnership Act, “at any time within 6 months of his attaining majority or of obtaining knowledge that he had been admitted to the benefits of partnership, whichever date is later, a minor can elect to become or not to become a partner”.

  1. Such option is exercised by giving a public notice.

  2. If he remains silent and fails to give such a notice, then there is a presumption that he wants to be a partner and on the expiry of the 6 months, he shall become a partner in the firm.

  3. If he did not exercise the option, then he will be deemed to become a partner in the firm.

  4. All of the above

  5. No public notice is required according to Section 30 of the Act.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

If the minor gives a public notice, then his position will be decided according to the particulars of notice. Otherwise, he will be deemed a partner in the firm.

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