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What is minor partners what are the rights duties and liabilities of partners?

Cynthia Baker

in Student Loans

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1 answer

Jessie Thompson on March 17, 2019

(i) has a right of participation in the property and profits of the company, according to your hand according to what was agreed between the partners.
(ii) He has the right to have access to inspect and obtain copies of the accounts of the company. Notice that apparently as minor is entitled to take inspection of or copies of the books of account of the company.
(iii) agreed to Their participation in the property and profits of the company is responsible for the acts of the company, though the minor personally or his personal or separate property is not so liable.
(iv) has no right, while he remains a member to file a suit against other partners for accounts or for payment of his share in the profits or property of the company.
(v) only He can, when he wants to cut his connection with the company.
(vi) In a suit for the service of their relationship with the company, your share will be determined by the valuation according to the principles set out in the sec. 48 for taking accounts of a dissolved partnership.
(vii), as a suit however, the other partners, or the partner entitled by agreement to dissolve the association, subject to prior notice, may elect to treat the suit as an overall measure of the dissolution and in such a case, the less, the fee shall be determined in the same way that the actions of the partners are determined in the decision of company general accounts.
(viii) Within 6 months of his attaining majority or his knowledge, that has been admitted into the association, which is always the last, the minor must give public notice, as defined by the sec. 72, notifying if he has chosen to be or not to be as a couple. If you do not give notice, shall be deemed to have elected to become a partner.
In addition, if the minor relies on absence of knowledge of his being partner till after 6 months of age, the burden of proof of such facts, it is only the minor. Public notice here means as notice to the Registrar, in the case of as registered firm, notice in the local Official Gazette and in one vernacular newspaper circulating in the district where the principal office of the company is situate (sec.72).
(ix) when a minor decides to become a member of his or her rights and responsibilities between the partners to continue with the same till date, but (b) in respect of third persons, he becomes liable for all acts of the company, from the time that he was admitted in the association (and not only from the date on which has reached the age of majority, or the fact of his election), and (c) its share in the profits and property of the company will remain the same, as it was, when he was a minor.
(x) If the minor decides not to become a partner (a) their rights and responsibilities, as between the partners, shall continue the same as before until the date of the notice; (b) your party will not be liable for the acts of the company after the date of the notice; and (c) the person shall have the right to sue his partners for accounts and payments on your part, as mentioned above.

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