Section 30 of IPA : Section 30: Minors Admitted To The Benefits Of Partnership
IPA
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Explanation using Example
Example Scenario: Application of Section 30 of The Indian Partnership Act, 1932
Rahul, a 17-year-old, has been admitted to the benefits of a partnership in a family-run restaurant business with the consent of all the current partners, including his father. As per Section 30(1), Rahul cannot be a full partner because he is a minor, but he can still receive a share of the profits.
According to Section 30(2), Rahul is entitled to inspect the restaurant's accounts to know how it is performing financiall...
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