Partnership reg
mani balan (4 Points)
21 September 2020
as I want to start company with partnership 1 partner is minor and holding 75%share is it possible or not
2 Replies
sachin
(student)
(22 Points)
Replied 21 September 2020
NOT _Section 30 of the Indian Partnership Act 1932 contains legal provisions about a minor in a partnership. In Indian Contract Act 1857 clearly states that no person less than the age of 18, i.e. a minor can be a party to a contract. And a partnership is a contract between the partners. Hence a minor cannot be a partner in a partnership firm.
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