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Mercantile Laws Test - 10
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Which of the following is correct?
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A
A minor can be admitted to the benefits of partnership.
💡 Explanation:
Under the Indian Partnership Act, 1932, a minor cannot be a full partner as they lack contractual capacity. However, Section 30 allows a minor to be admitted to the BENEFITS of an existing partnership with consent of all partners. The minor shares profits but is not liable for losses - they receive benefits without partnership liabilities.