The position of minor partner may be studied under the following two heads: 1. Position before Attaining Majority 2. Position on Attaining Majority. 1. Position before Attaining Majority: (i) Every minor partner has a right to such share of the property and of profits of the firm as may have been agreed upon. (ii) Every minor partner has a right [...]
After reading this article you will learn about the rights and duties of partners. Rights of Partners: The rights of partners are given below: 1. Every partner has the right to participate in the conduct and management of the business. 2. Every partner has the right to have access to and to inspect and copy any of the books of [...]
After reading this article you will learn about the mode of dissolution of partnership firm and settlement of accounts thereof. According to Section 39 of the Partnership Act, 1932, "The dissolution of partnership between all the partners of a firm is called dissolution of the firm." The Indian Partnership Act, 1932 recognises the difference between 'dissolution of partnership' and 'dissolution [...]