alleryStart learning →A minor admitted to the benefits of partnership is personally liable for what?
AAll firm debts
BHalf the debts
CNothing personally
DOnly tort claims
Answer & Solution
Correct answer: C. Nothing personally
Only the minor's share is exposed to firm acts, while the minor has no personal liability.
Keep practising Partnership
Browse all Partnership questions for CA Foundation, or explore more Businesslaw topics.
Related questions
A fixed-term firm carrying on after expiry takes the incidents of what?While settling accounts after dissolution, goodwill is treated as what?A partner rescinding for fraud ranks as what regarding debt payments he made?No premium refund follows when dissolution is mainly due to what?After dissolution, a partner's authority continues for what purpose?Which is repaid first among partners after outside debts?Settling accounts after dissolution, firm assets first pay what?Public notice of a registered firm's dissolution includes which publication?