Can a minor become a partner in a partnership firm? Justify your answer and also explain the rights of a minor in a partnership firm.\nOR\nA minor admitted to the benefits of a partnership firm is entitled to certain rights and may also have liabilities to third parties for the acts of the firm. Discuss the rights and liabilities (before attaining majority only) of the minor under the Indian Partnership Act, 1932.
Minor as a partner: \nA minor is not competent to contract. Hence, a person who is a minor according to the law to which he is subject may not be a partner in a firm, but with the consent of all the partners for the time being, he may be admitted to the benefits of partnership. \nRights of a minor in a partnership firm: \ni) A minor partner has a right to his agreed share of the profits and of the firm.\nii) He can have access to, inspect and copy the accounts of the firm.\niii) He can sue the partners for accounts or for payment of his share but only when severing his connection with the firm, and not otherwise.\n(iv) On attaining majority, he may within 6 months elect to become a partner or not to become a partner. If he elects to become a partner, then he is entitled to the share to which he was entitled as a minor. If he does not, then his share is not liable for any acts of the firm after the date of the public notice served to that effect.\nOR\nRights are same, for liabilities before majority, refer Ans 32.
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