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When a minor who was admitted to the benefits of the firm, on attaining majority becomes a partner in the firm, his share in the property and the firm shall

When a minor who was admitted to the benefits of the firm, on attaining majority becomes a partner in the firm, his share in the property and the firm shall Correct Answer Remain the same as it was during the minority

Related Questions

Which of the following statements are true?
(1) Minor's contract can be ratified on attaining majority.
(2) Minor's contract cannot be ratified on attaining majority.
(3) Minor's contract can be ratified jointly by both the parties to the contract.
(4) Minor is not liable under minor's contract.
(5) Minor's contract is an enforceable contract.
Every partner is jointly and severally liable for all acts of the firm. However, a minor can be admitted to the benefits of the firm. Liability of a partner is unlimited and he is personally liable for the acts of the firm. The liability of the minor in case of the acts of the firm is
On election to become a partner, on attaining majority, by a minor who was admitted to the benefits of the firm, under section 30(7)of the Act, his rights and liabilities in the firm
On becoming a partner, on attaining majority by a minor who was admitted to the benefits of the firm, his personal liability, under section 30(7) of the Act, for the acts of the firm, commences from
Within how many months of attaining majority, a minor admitted into the benefits of a partnership firm must decide whether he wants to become a partner in the firm?
When a minor, who was admitted to the benefits of Partnership becomes a partner upon attaining the age of majority, his personal liability commences from:
Which of the following are correct regarding rights of partners?
1. A partner has the right to allow the admission of a new partner.
2. Every partner has a right to take part in the management of business.
3. Every partner has a joint ownership of partnership property.
4. Every partner has a right to share the profit not the losses with other partners.
5. Every partner has a right to inspect the books of account and have a copy of the same.
6. In case of emergency, a partner has a right to act as a man of prudence.
Select the correct answer:
If a minor, admitted to the benefits of the firm, on attaining majority, fails to give public notice of his intention to become or not to become a partner, within the prescribed six months, by virtue of proviso to section 30(5) of the Act, he
Anjum is counting his last days, he keeps half his property for his wife and divides the rest equally among his three sons: Bimar, Cumar and Danger. Some years later, Bimar dies, leaving half his property to his widow and half to his brothers, Cumar and Danger together, sharing equally. When Cumar makes his will, he keeps half his property for his widow and the rest he bequeaths to his younger brother Danger. When Danger dies some years later, he keeps half his property for his widow and the remaining for his mother. The mother now has Rs. 1575000. What was the worth of the total property?
According to Section 30 of the Partnership Act, "at any time within 6 months of his attaining majority or of obtaining knowledge that he had been admitted to the benefits of partnership, whichever date is later, a minor can elect to become or not to become a partner."