IndigoLearn

Forums

Partnership Act section 30 and section 32

Is Minor can dissolved the firm - â?¢ when minor wants to retire from the partnership before attaining age of majority. Section 32 If Retiring partner not giving public notice then his Act after their retirement can binds the firm. Please answer


Shivam Vij

Shivam Vij

CA Foundation

520

12-Sep-20

60

Answers (5)

What is your question?


Suraj Lakhotia

Suraj Lakhotia

Admin

12-Sep-20

When minor wants to retire from partnership before attaining there majority , can cause dissolution of firm or not.


Thread Starter

Shivam Vij

Shivam Vij

CA Foundation

520

12-Sep-20

As we are aware that partnership is the relationship between the partners. A minor cannot be a partner, he is just only admitted for benefits with mutual consent of partners. As he is not a partner he cannot alter or dissolve partnership relation until he attains majority. But he has right to sue partners. Hope it helps!!!


VIJAYA SARADHI MAGANTI

VIJAYA SARADHI MAGANTI

CA Foundation

850

12-Sep-20

After retirement he will be relieved from all the rights and obligations. If any liabilities or obligations created during the course of business when he is in partnership relation for such obligations he is liable up to issuing public notice in a local regional language newspaper in the area where business is carried out.


VIJAYA SARADHI MAGANTI

VIJAYA SARADHI MAGANTI

CA Foundation

850

12-Sep-20

Inter Testimonials
Testimonials CA Foundation July 21
Excel Launch
Study Planner
Business Law - CA Foundation
Fundamentals of Blockchain
Quote
Financial Modelling
Refer
EMI
Past_Exams
Tally + Excel Free
Tally Prime