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What is a minor partner?
20. What is a minor partner?
- An invested person who is involved in the daily operations of the partnership.
- A person who provides some of the capital for a business but who does not take an active part in managing the business.
- A partner who gets into an agreement to share only the profits of the partnership firm and not the losses.
- A Partner who is under the age of 18.
Answer: D) A Partner who is under the age of 18
Explanation:
A minor can't be an accomplice of a firm as per the Contract Act. Be that as it may, an accomplice can be conceded to the advantages of an organization assuming all accomplice gives their assent for something similar. He will share the benefits of the firm however his responsibility for the misfortunes will be restricted to his portion in the firm.