A person admitted to the benefits of partnership as a minor may give public notice of his election whether or not to become a partner. Under section 30(5) of the Indian Partnership Act, 1932, within…
Question and options
A person admitted to the benefits of partnership as a minor may give public notice of his election whether or not to become a partner. Under section 30(5) of the Indian Partnership Act, 1932, within what period of attaining majority, or of learning that he had been admitted, whichever is later, must he do so?
Three months
One year
Nine months
Six months
Answer and explanation
Correct answer: D - Six months
Section 30(5) of the Indian Partnership Act, 1932 allows six months from attaining majority or from obtaining knowledge of admission to the benefits of partnership, whichever is later. If he gives no notice within that time, he becomes a partner on the expiry of the six months.
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