Question
Legal Studies Question on Laws of Contract
The following is true about partnership firms
A
A new partner can be admitted in a partnership firm with the consent of all partners.
B
A minor is incompetent to contract but his share in the property and profits is liable for the acts of the firm.
C
A person may be held liable as a partner under the doctrine of holding out.
D
All of the above statements are true
Answer
All of the above statements are true
Explanation
Solution
The correct option is (D): All of the above statements are true.