Give the Word / Term Or Phrase Which Can Substitute the Following Statement. a Partner Below the Age of 18 Years. - Book Keeping and Accountancy
Give the word / term or phrase which can substitute the following statement.
A partner below the age of 18 years.
Explanation: A partner below the age of 18 years is known as a minor partner. He can be admitted to the benefits of the partnership firm only with the consent of all the partners.
Concept: The Indian Partnership Act 1932
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