Only persons legally capable of making an agreement can become partners. Lunatics, insolvent, minor cannot become a partner. But, he may be admitted to the benefits of partnership with the consent of all partners.

The persons who enter into partnership are collectively known as 'Firm'.

Under the Indian Majority Act, person who has not completed 18 years of age is a minor. However, he will continue to be a minor till he completes 21 years if a guardian has been appointed to the minor. He can be admitted to the benefits of partnership.
Partnership arises as a result of contract. But a minor has no contractual capacity. Though a partnership cannot be created with a minor as a partner, a minor can be admitted to the benefits of a partnership which is already in existence. The consent of all partners is a 'must' for such admission.

The Person who enters into the partnership are individually called Partners and collectively known as 'Firm'.

All the affairs of a Joint Hindu Family are controlled and managed by one person who is known as 'Karta' or 'Manager'. The Karta is the senior most male member of the family.

When a partnership is formed to carry on a particular venture or a business of temporary nature, it is called particular partnership. In other words, it comes to an end on the completion of the particular venture.

Joint and Several liabilities:
Every partner is jointly and severally liable for all acts of the firm. It means that in case the assets are inadequate for meeting the claims of creditors, even their personal properties should be made available. The creditors can recover their claims from all the partners.

According to Prof.Haney, "The relations which exist between persons, competent to make contracts, who agree to carry on a lawful business in common with a view to private gain".
According to Spiegel, "Partnership has two or more members each of whom is responsible for the obligatory requirements of the partnership. Each of the partners may bind the others and the assets of the partners may be taken for debts of partnership".

Liability:
Except the Karta, the liability of all other members is limited to their shares in the business. The Karta is not only liable to the extent of his share in the business but his separate property is equally attachable and amount of debt can be recovered from his personal property.

1. The Joint Hindu Family Business is a distinct form of organisation peculiar to India.
2. Joint Hindu Family Firm is created by the operation of law.
3. It does not have any separate and distinct legal entity from that of its members.
4. The business of Joint Hindu Family is controlled under the Hindu Law instead of Partnership Act.
5. The membership in this form of business organisation can be acquired only by birth.
6. The head of the Joint Hindu Family business is known as 'KARTA'.

Registration of Partnership:
The Indian Partnership Act does not make the registration of a partnership compulsory. Registration is optional. But the disabilities of non-registration virtually make it compulsory.
Procedure for Registration:
A statement should be prepared stating the following particulars.
(1) Name of the firm.
(2) The principal place of business.
(3) Name of other places where the firm carried on business.
(4) Names and addresses of all the partners.
(5) The date on which each partner joined the firm.
(6) The duration of the firm.
This statement signed by all the partners should be produced to the Registrar of Firms along with the necessary registration fee. Any change in the above particulars must be communicated to the Registrar within 14 days of such alteration.

Dissolution of Partnership	Dissolution of Firm
A partnership is dissolved by retirement or admission or insolvency (ie) the change of original partnership	All the Partners terminate their connections with the firm.
It means the termination of original partnership agreement	It means partnership comes to end.
The business will continue even if the partnership is dissolved.	The business cannot be continued in the dissolution of firm.

1. The business of the Joint Hindu Family is controlled and managed under the Hindu law.
2. All the affairs of a Joint Hindu Family are controlled and managed by one person who is known as 'Karta' or Manager'.
3. The Karta is the senior most male member of the family.
4. The members of the family have full faith and confidence in Karta.
5. Only Karta is entitled to deal with outsiders.
6. But other members can deal with outsiders only with the permission of Karta.
7. In a joint family firm, only Karta has the implied authority to enter into a contract for debts and pledge the property of the firm for the ordinary purpose of the businesses of the firm.
8. Except the Karta, the liability of all other members is limited to their shares in the business.
9. The Karta is not only liable to the extent of his share in the business but his separate property is equally attachable and amount of debt can be recovered from his personal property.