CAF-4 · Chapter 13 · Question 9 of 10
Can a minor who is admitted to the benefits of a partnership sue the other partners for their share of the profits while they are still a minor and part of the firm?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) No, a minor can only sue for account or payment of their share when disconnecting their relationship with the firm.
Explanation
The law limits litigation among partners. A minor cannot sue the partners for an account or their share of property/profits except when severing all ties with the firm.
More Relations of partners to third parties MCQs
- Q1What is the foundational principle regarding a partner's relationship with third parties in the conduct of the firm's business?
- Q2A minor, Sarah, is admitted to the benefits of a partnership firm. Which of the following accurately describes her liability for the debts…
- Q3When a minor admitted to the benefits of a partnership attains the age of majority, what is the time limit for them to decide whether to…
- Q4If a minor attains majority, elects to become a full partner in the firm, and gives public notice, from what date does their personal…
- Q5Which of the following actions is a partner NOT empowered to do under their 'implied authority'?