- There is a loan (right).
- That loan is unpaid (you have an irreparable loss).
- That loan can be legally recovered out of the properties of the borrower (balance of convenience is in your favour).
Can a Minor Be a Partner in a Firm? Understanding Section 30 of the Partnership Act
Section 30 of the Indian Partnership Act, 1932 permits a minor to be admitted only to the benefits of partnership. A minor may receive a share in profits and property and inspect accounts, but cannot become a full partner or incur personal liability for the firm’s debts and losses.

