Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Minors Cannot Be Partners, But Can Benefit With Consent; Decision Required Upon Majority Under Partnership Rules.</h1> A minor cannot be a partner in a firm but may be admitted to the benefits of partnership with the consent of all partners. The minor has rights to a share of the property and profits and can inspect the firm's accounts. The minor's share is liable for the firm's actions but not personally liable. Upon reaching majority, the minor has six months to decide whether to become a partner by giving public notice. If no notice is given, the minor becomes a partner. If electing not to become a partner, the minor retains rights and liabilities as a minor and can sue for their share.
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