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When a minor attains majority, from which date is he deemed to be a partner with unlimited liability? 
  • a)
    When he attains majority 
  • b)
    When it comes to his knowledge 
  • c)
    (a) or (b) whichever is earlier 
  • d)
    (a) or (b) whichever is later
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
When a minor attains majority, from which date is he deemed to be a pa...
When a minor attains majority, there are certain legal implications that need to be considered. One such implication is whether the minor becomes a partner with unlimited liability in a partnership firm. The correct answer to this question is option 'D', which states that the minor is deemed to be a partner with unlimited liability from either the date he attains majority or the date it comes to his knowledge, whichever is later.

Explanation:

Definition of a minor: A minor is an individual who has not yet reached the age of majority, which is generally 18 years old. In some jurisdictions, the age of majority may vary.

Liability of a minor in a partnership firm: A minor is not personally liable for the debts and obligations of a partnership firm. This means that if the firm incurs any losses or liabilities, the minor's liability is limited to the extent of his capital contribution. The other partners, who are adults, are personally liable for the firm's debts.

Attainment of majority: When a minor reaches the age of majority, he becomes capable of entering into contracts and assuming full legal responsibility. This means that he can become a partner with unlimited liability in a partnership firm.

Date of becoming a partner with unlimited liability: According to the question, the minor is deemed to be a partner with unlimited liability from either the date he attains majority or the date it comes to his knowledge, whichever is later. This means that if the minor becomes aware of his status as a partner after attaining majority, he will be considered a partner with unlimited liability from that later date.

Reasoning behind the correct answer: The reason for this provision is to protect the interests of the minor. If the minor is not aware of his status as a partner, he may unknowingly assume unlimited liability for the firm's debts. By allowing the minor to become a partner with unlimited liability from the date of his knowledge, it ensures that he has the opportunity to make an informed decision about his participation in the partnership.

In conclusion, when a minor attains majority, he is deemed to be a partner with unlimited liability from either the date he attains majority or the date it comes to his knowledge, whichever is later. This provision ensures that the minor has the opportunity to make an informed decision about his liability in the partnership.
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When a minor attains majority, from which date is he deemed to be a partner with unlimited liability?a)When he attains majorityb)When it comes to his knowledgec)(a) or (b) whichever is earlierd)(a) or (b) whichever is laterCorrect answer is option 'D'. Can you explain this answer?
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When a minor attains majority, from which date is he deemed to be a partner with unlimited liability?a)When he attains majorityb)When it comes to his knowledgec)(a) or (b) whichever is earlierd)(a) or (b) whichever is laterCorrect answer is option 'D'. Can you explain this answer? 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 When a minor attains majority, from which date is he deemed to be a partner with unlimited liability?a)When he attains majorityb)When it comes to his knowledgec)(a) or (b) whichever is earlierd)(a) or (b) whichever is laterCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for When a minor attains majority, from which date is he deemed to be a partner with unlimited liability?a)When he attains majorityb)When it comes to his knowledgec)(a) or (b) whichever is earlierd)(a) or (b) whichever is laterCorrect answer is option 'D'. Can you explain this answer?.
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