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in Forms of Business Organisation by (35.1k points)
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Tristar Traders’ is a real estate partnership firm having partners viz. Haridas, Balakrishnan and Venny. They are equal partners. Due to ill health, Mr.Balakrishnan wants to retire from the business and he asks other partners to admit his 17-year-old son Mr.Renjith into partnership. Mr.Haridas and Mr.Venny agree to admit Mr.Renjith into the partnership. 

1. Is it possible to admit Mr.Renjith into the partnership? Substantiate.

2. What type of partner is Renjith?

1 Answer

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Best answer

1. Yes. It is possible to admit Renjith into partnership with the consent of all other partners. 

2. Minor partner.

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