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Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasnt yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesnt have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and cant be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(a) of the Indian Partnership Act also states that after a minor partner has been admitted in the partnership as a full-fledged partner, he will be liable not only for the future liabilities of the firm but also the past liability from the date of his admission in the partnership.[Extracted with edits and revisions from Minors As Partners of Firm, article by legalserviceindia]Q.Can a minor who decided to dissociate from the partnership upon reaching the age of majority still claim their overdue share of profits as a matter of right?a)No, his disassociation from the firm means he forfeits all rights.b)Yes, but he should also assume responsibility for the losses since he reached the age of majority.c)No, once he reaches the age of majority, he loses the entitlement to claim his share.d)Yes, he retains the entitlement, and leaving the firm does not extinguish his right.Correct answer is option 'D'. Can you explain this answer? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasnt yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesnt have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and cant be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(a) of the Indian Partnership Act also states that after a minor partner has been admitted in the partnership as a full-fledged partner, he will be liable not only for the future liabilities of the firm but also the past liability from the date of his admission in the partnership.[Extracted with edits and revisions from Minors As Partners of Firm, article by legalserviceindia]Q.Can a minor who decided to dissociate from the partnership upon reaching the age of majority still claim their overdue share of profits as a matter of right?a)No, his disassociation from the firm means he forfeits all rights.b)Yes, but he should also assume responsibility for the losses since he reached the age of majority.c)No, once he reaches the age of majority, he loses the entitlement to claim his share.d)Yes, he retains the entitlement, and leaving the firm does not extinguish his right.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasnt yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesnt have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and cant be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(a) of the Indian Partnership Act also states that after a minor partner has been admitted in the partnership as a full-fledged partner, he will be liable not only for the future liabilities of the firm but also the past liability from the date of his admission in the partnership.[Extracted with edits and revisions from Minors As Partners of Firm, article by legalserviceindia]Q.Can a minor who decided to dissociate from the partnership upon reaching the age of majority still claim their overdue share of profits as a matter of right?a)No, his disassociation from the firm means he forfeits all rights.b)Yes, but he should also assume responsibility for the losses since he reached the age of majority.c)No, once he reaches the age of majority, he loses the entitlement to claim his share.d)Yes, he retains the entitlement, and leaving the firm does not extinguish his right.Correct answer is option 'D'. Can you explain this answer?.

Solutions for Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasnt yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesnt have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and cant be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(a) of the Indian Partnership Act also states that after a minor partner has been admitted in the partnership as a full-fledged partner, he will be liable not only for the future liabilities of the firm but also the past liability from the date of his admission in the partnership.[Extracted with edits and revisions from Minors As Partners of Firm, article by legalserviceindia]Q.Can a minor who decided to dissociate from the partnership upon reaching the age of majority still claim their overdue share of profits as a matter of right?a)No, his disassociation from the firm means he forfeits all rights.b)Yes, but he should also assume responsibility for the losses since he reached the age of majority.c)No, once he reaches the age of majority, he loses the entitlement to claim his share.d)Yes, he retains the entitlement, and leaving the firm does not extinguish his right.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT. Download more important topics, notes, lectures and mock test series for CLAT Exam by signing up for free.

Here you can find the meaning of Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasnt yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesnt have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and cant be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(a) of the Indian Partnership Act also states that after a minor partner has been admitted in the partnership as a full-fledged partner, he will be liable not only for the future liabilities of the firm but also the past liability from the date of his admission in the partnership.[Extracted with edits and revisions from Minors As Partners of Firm, article by legalserviceindia]Q.Can a minor who decided to dissociate from the partnership upon reaching the age of majority still claim their overdue share of profits as a matter of right?a)No, his disassociation from the firm means he forfeits all rights.b)Yes, but he should also assume responsibility for the losses since he reached the age of majority.c)No, once he reaches the age of majority, he loses the entitlement to claim his share.d)Yes, he retains the entitlement, and leaving the firm does not extinguish his right.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasnt yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesnt have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and cant be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(a) of the Indian Partnership Act also states that after a minor partner has been admitted in the partnership as a full-fledged partner, he will be liable not only for the future liabilities of the firm but also the past liability from the date of his admission in the partnership.[Extracted with edits and revisions from Minors As Partners of Firm, article by legalserviceindia]Q.Can a minor who decided to dissociate from the partnership upon reaching the age of majority still claim their overdue share of profits as a matter of right?a)No, his disassociation from the firm means he forfeits all rights.b)Yes, but he should also assume responsibility for the losses since he reached the age of majority.c)No, once he reaches the age of majority, he loses the entitlement to claim his share.d)Yes, he retains the entitlement, and leaving the firm does not extinguish his right.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasnt yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesnt have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and cant be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(a) of the Indian Partnership Act also states that after a minor partner has been admitted in the partnership as a full-fledged partner, he will be liable not only for the future liabilities of the firm but also the past liability from the date of his admission in the partnership.[Extracted with edits and revisions from Minors As Partners of Firm, article by legalserviceindia]Q.Can a minor who decided to dissociate from the partnership upon reaching the age of majority still claim their overdue share of profits as a matter of right?a)No, his disassociation from the firm means he forfeits all rights.b)Yes, but he should also assume responsibility for the losses since he reached the age of majority.c)No, once he reaches the age of majority, he loses the entitlement to claim his share.d)Yes, he retains the entitlement, and leaving the firm does not extinguish his right.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasnt yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesnt have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and cant be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(a) of the Indian Partnership Act also states that after a minor partner has been admitted in the partnership as a full-fledged partner, he will be liable not only for the future liabilities of the firm but also the past liability from the date of his admission in the partnership.[Extracted with edits and revisions from Minors As Partners of Firm, article by legalserviceindia]Q.Can a minor who decided to dissociate from the partnership upon reaching the age of majority still claim their overdue share of profits as a matter of right?a)No, his disassociation from the firm means he forfeits all rights.b)Yes, but he should also assume responsibility for the losses since he reached the age of majority.c)No, once he reaches the age of majority, he loses the entitlement to claim his share.d)Yes, he retains the entitlement, and leaving the firm does not extinguish his right.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Directions: Read the following passage and answer the question.Indian Partnership Act, 1932 defines persons as partners who have agreed to share profits of the business carried on by all or any of them acting for all. A minor is a person who hasnt yet attained the age of majority, which is eighteen years, according to the Indian Majority Act, 1875.The general principle has been laid down by Section 11 of the Indian Contract Act, 1872, where it is discussed that who is competent to a contract and thereby stating that a minor doesnt have the ability to contract. Under Section 4 of the Indian Partnership Act, a firm means a group of people who has entered into a contract of partnership among themselves and reading it with Section 11 of the Indian Contract Act, it can be interpreted that a minor cannot be a part of a partnership contract.However, the Supreme Court in the landmark judgement of Commissioner of Income Tax v. D. Khaitan and Co. took a legal stand that in a situation where a minor is made a full-fledged partner in the firm, the partnership cannot be registered by the Income Tax Department only.Section 30(2) of the Indian Partnership Act states that a minor is entitled to share of profits and the property of the firm, which may have decided at the time the minor was admitted to the benefits of the partnership. Under this provision, a minor has the right to inspect the accounts of the partnership but to that fact does not have any right to inspect other documents of the partnership.Even in Section 30(3) of the Indian Partnership Act, a minor can only be liable to the extent of his share in the partnership and cant be liable personally to the partnership for the losses of the firm.According to Section 30(5) of the Indian Partnership Act, a minor has two options after attaining majority, either he can sever the connection with the firm or he can become a full-fledged partner in the firm. After leaving, he can avail any pending share of profits he is entitled to.The minor has to make his decision within six months of his attaining majority. Section 7(a) of the Indian Partnership Act also states that after a minor partner has been admitted in the partnership as a full-fledged partner, he will be liable not only for the future liabilities of the firm but also the past liability from the date of his admission in the partnership.[Extracted with edits and revisions from Minors As Partners of Firm, article by legalserviceindia]Q.Can a minor who decided to dissociate from the partnership upon reaching the age of majority still claim their overdue share of profits as a matter of right?a)No, his disassociation from the firm means he forfeits all rights.b)Yes, but he should also assume responsibility for the losses since he reached the age of majority.c)No, once he reaches the age of majority, he loses the entitlement to claim his share.d)Yes, he retains the entitlement, and leaving the firm does not extinguish his right.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CLAT tests.