Before attaining the age of majority a minor admitted to the benefits of a firm has the right t...........

General Accounting Principles Partnership

Before attaining the age of majority, a minor admitted to the benefits of a firm has the right to

Receive agreed share of property and of profit.

Access and to inspect the accounts of the firm.

Sue the firm for his share of the property and profits

all of the above

RIGHTS OF A MINOR

Once the minor is given the benefits in a partnership there are certain rights that he enjoys:-

A minor partner will obviously have the right to his share of the profits of the firm. But the minor partner is not liable for any losses beyond his interest in the firm. So a minor partner’s personal assets cannot be liquidated to pay the firms liabilities.
He can also like any other partner inspect the books of accounts of the firm. He can demand a copy of the books as well.
If necessary he can sue any or all of the other partners for his share of the profits or benefits.
A minor partner on attaining majority has the right to become a partner of the firm. He has six months from attaining majority to decide if he will execute this right. Whether he decides to become a partner or not he must give public notice about the same.