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For admitting a minor into the benefits of the partnership ,which of the following is required? (a) consent of the minor's guardian (b) consent of the registrar of firms (c) consent of all the partners of the firm (d) all of the above Answer with explanation?
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For admitting a minor into the benefits of the partnership ,which of t...
Consent for Admitting a Minor into Partnership
Explanation:
Consent of the Minor's Guardian:
- In order to admit a minor into the benefits of a partnership, the consent of the minor's guardian is essential. Since minors are not considered competent to enter into contracts, the guardian's consent is required to protect the minor's interests and ensure that the partnership agreement is legally valid.
Consent of the Registrar of Firms:
- The consent of the registrar of firms is not required for admitting a minor into the benefits of a partnership. The registrar's role is primarily related to the registration and regulation of partnership firms, and they are not directly involved in the decision to admit a minor as a partner.
Consent of All the Partners of the Firm:
- Another important requirement for admitting a minor into the benefits of a partnership is the consent of all the partners of the firm. Since the addition of a minor partner can impact the rights and obligations of the existing partners, their consent is necessary to ensure smooth functioning of the partnership.
Conclusion:
- In conclusion, the key requirement for admitting a minor into the benefits of a partnership is the consent of the minor's guardian, along with the consent of all the partners of the firm. This ensures that the minor's interests are protected and that the partnership operates effectively with the new addition.
Explanation:
Consent of the Minor's Guardian:
- In order to admit a minor into the benefits of a partnership, the consent of the minor's guardian is essential. Since minors are not considered competent to enter into contracts, the guardian's consent is required to protect the minor's interests and ensure that the partnership agreement is legally valid.
Consent of the Registrar of Firms:
- The consent of the registrar of firms is not required for admitting a minor into the benefits of a partnership. The registrar's role is primarily related to the registration and regulation of partnership firms, and they are not directly involved in the decision to admit a minor as a partner.
Consent of All the Partners of the Firm:
- Another important requirement for admitting a minor into the benefits of a partnership is the consent of all the partners of the firm. Since the addition of a minor partner can impact the rights and obligations of the existing partners, their consent is necessary to ensure smooth functioning of the partnership.
Conclusion:
- In conclusion, the key requirement for admitting a minor into the benefits of a partnership is the consent of the minor's guardian, along with the consent of all the partners of the firm. This ensures that the minor's interests are protected and that the partnership operates effectively with the new addition.
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For admitting a minor into the benefits of the partnership ,which of the following is required? (a) consent of the minor's guardian (b) consent of the registrar of firms (c) consent of all the partners of the firm (d) all of the above Answer with explanation?
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For admitting a minor into the benefits of the partnership ,which of the following is required? (a) consent of the minor's guardian (b) consent of the registrar of firms (c) consent of all the partners of the firm (d) all of the above Answer with explanation? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about For admitting a minor into the benefits of the partnership ,which of the following is required? (a) consent of the minor's guardian (b) consent of the registrar of firms (c) consent of all the partners of the firm (d) all of the above Answer with explanation? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for For admitting a minor into the benefits of the partnership ,which of the following is required? (a) consent of the minor's guardian (b) consent of the registrar of firms (c) consent of all the partners of the firm (d) all of the above Answer with explanation?.
For admitting a minor into the benefits of the partnership ,which of the following is required? (a) consent of the minor's guardian (b) consent of the registrar of firms (c) consent of all the partners of the firm (d) all of the above Answer with explanation? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about For admitting a minor into the benefits of the partnership ,which of the following is required? (a) consent of the minor's guardian (b) consent of the registrar of firms (c) consent of all the partners of the firm (d) all of the above Answer with explanation? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for For admitting a minor into the benefits of the partnership ,which of the following is required? (a) consent of the minor's guardian (b) consent of the registrar of firms (c) consent of all the partners of the firm (d) all of the above Answer with explanation?.
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