Practicing Success
Practicing Success
CUET Preparation Today
Assertion (A) - Minors cannot form a partnership firm. |
Both A and R are true. R is the correct explanation of A Both A and R are true, but R is not the correct explanation of A A is correct, but R is incorrect A is incorrect, but R is correct |
A is correct, but R is incorrect |
Partnership is the outcome of a contract. Thus: a) There must be at least 2 persons to enter into contract to form partnership. b) Minors cannot form a partnership firm as they are incompetent to enter into contract but can be admitted to the benefits of a running firm. c) If these people intend to do banking business, the maximum number can be ten otherwise twenty for the other business. |
