If a person who is minor according to the law to which he is subject is admitted to the benefits of a…
Under section 30(5) of the Indian Partnership Act, 1932, a minor admitted to the benefits of partnership has six months after attaining majority, or after learning of his…
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If a person who is minor according to the law to which he is subject is admitted to the benefits of a partnership, it is claimed that
Answer and explanation
Correct answer C
Under section 30(5) of the Indian Partnership Act, 1932, a minor admitted to the benefits of partnership has six months after attaining majority, or after learning of his admission, whichever is later, to elect by public notice whether to become a partner; until then his position as a person admitted to benefits continues. That transitional period is what "He can enjoy, for some time, the status of minority even after attaining majority" describes. His share is liable for the firm's acts, and he cannot sue the partners for accounts or for his share of profits except when severing his connection with the firm (section 30(4)).
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