Under section 30(3) of the Indian Partnership Act, 1932, what is liable for acts of the firm while a…
The rule concerns the position of the minor admitted to benefits. Section 30(7) separately specifies the personal liability that can arise if that person becomes a partner.
Choose your answer
Under section 30(3) of the Indian Partnership Act, 1932, what is liable for acts of the firm while a minor is admitted to the benefits of partnership?
Answer and explanation
Correct answer D
The rule concerns the position of the minor admitted to benefits. Section 30(7) separately specifies the personal liability that can arise if that person becomes a partner.
Option feedback
Option A
The minor's share is liable, and the minor is not personally liable for those acts under this subsection.
Option B
Section 30(3) exposes the share only, without personal liability.
Option C
The absence of personal liability does not protect the share from liability for acts of the firm.
Option D
This is the distinction in section 30(3).
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