Minor – Law

Sociology | Mercantile Law | International Law | International Relations

First, read basics of minor at Minor, Law.

Minor can’t be made Partner but Admitted in Profit
A minor 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.

Rights of Minor
Such minor has a right to such share of the property and of the profits of the firm as may be agreed upon, and he may have access to and inspect and copy any of the accounts of the firm.

Personal Liability of Minor
Such minor’s share is liable for the acts of the firm but the minor is not personally liable for any such act.

Minor can’t Sue other Partner
Such minor may not sue the partners for an account or payment of his share of the property or profits of the firm.