Compare the status of a minor in a Joint Hindu Family Business with that in a partnership firm.
A person becomes a member in the family business when he takes birth in such families.
All minors in the family are co-parceners in the family business. On the other hand, partnership is
based on legal contract between two persons who agree to share the profits or losses of a business carried on by them and a minor is incompetent to enter into such a valid contract with others.
Hence, a minor cannot become a partner in any firm. However, a minor can be admitted to the benefits of a partnership firm with the mutual consent of all other partners.