Mercantile Laws Test - 10

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Multiple Choice

Which of the following is correct?

  1. A minor can be admitted as a partner provided the partnership deed is signed by the guardian of the minor on behalf of and in the best interest of such minor.
  2. A minor can enter into a contract of partnership provided it is a 'necessity' and not a 'luxury'.
  3. A minor cannot be admitted as a partner unless all the partners agree to it.
  4. A minor can be admitted to the benefits of partnership.
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