(Useful for PT/MAINS)
Section 30: Minors admitted to the benefit of Partnership.
Who can be a partner?
With combined effect of section 2(c) and section 3, reference is made from section 10 of Indian Contract Act.
So any person of sound mind, major and not disqualified by law can be a partner.
After death of a partner can his wife or his legal heir be a partner of that partnership firm?
Section 42(C) of Partnership Act talks about ‘Dissolution of firm on the death of a partner.’
If there is no contract to the contrary then partnership automatically dissolves on the death of a partner.
THE INDIAN PARTNERSHIP ACT, 1932 An Act to define and amend the law relating to Partnership. Whereas it is expedient to define and amend the law relating to partnership; It is hereby enacted as follows- CHAPTER I OF INDIAN PARTNERSHIP ACT, 1932 PRELIMINARY 1. Short title, extent and commencement. (1)