Millionaire Mode

Mercantile Laws Test - 10

Question 1 of 40

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.

Prize Money

15₹7 Crores
14₹1 Crore
13₹50,00,000
12₹25,00,000
11₹12,50,000
10₹6,40,000
9₹3,20,000
8₹1,60,000
7₹80,000
6₹40,000
5₹20,000
4₹10,000
3₹5,000
2₹2,000
1₹1,000