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Give the Word / Term Or Phrase Which Can Substitute the Following Statement. a Partner Below the Age of 18 Years. - Book Keeping and Accountancy

One Word Answer

Give the word / term or phrase which can substitute the following statement.

A partner below the age of 18 years.

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Solution

Minor partner

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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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 1 Introduction to Partnership
Exercise | Q 8 | Page 13
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