Q. “Though a minor cannot be a partner in a firm, but he may be admitted to the benefits of the partnership. Explain the rights and liabilities of a minor in light of this statement.” (15) [2006/Law II/7(b)]
Answer Approach:
•Introduction: Explain why a minor cannot be a partner in a firm with the help of relevant provisions.
• Main body: Discuss the reasons why a minor should be admitted to the benefits of the partnership. With the help of relevant provisions, discuss how the IPA tries to protect the interests of the minor. Also make use of relevant case laws at appropriate places although in a short and concise manner.
• Conclusion: Conclude on the note of certain restrictions imposed on the minor in the form of holding out, etc.
• Tip for students: There is a lot of content in terms of number of provisions to be covered in this answer. Do not get confused with the provision numbers and also don’t explain any point in too much detail.
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