Minor Admitted to the benefits of Partnership Incoming and Outgoing Partner Registration of Partnership Firm Dissolution of Partnership

A jeweller in Zaveri Bazaar wants his sixteen-year-old son to have a share in the family firm. A senior partner is about to retire. The firm has never been registered, and one partner has started to quarrel with the rest. Each of these is a moment when a partnership changes shape, and the Indian Partnership Act 1932 has a rule for every one. This topic follows the life of a firm from the minor who shares its benefits to the last account settled after dissolution.

In two minutes

A minor cannot be a partner but may be admitted to its benefits; partners may come and go under ss.31–38; a firm ends by agreement, compulsion, contingency, notice or the Court (ss.39–44); and registration is optional but its absence bars certain suits (s.69).

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