CAF-4 · Chapter 13 · Question 2 of 10
A minor, Sarah, is admitted to the benefits of a partnership firm. Which of the following accurately describes her liability for the debts of the firm while she is a minor?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Her share in the property and profits of the firm is liable for the acts of the firm, but she is not personally liable.
Explanation
A minor admitted to the benefits of partnership is not personally liable for the firm's debts; however, their share in the firm's property and profits can be used to satisfy those debts.
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