Question
Nadim (45 years old) decided to form a Limited Partnership with his son Adnan (16 years old) and his daughter Dora (15 years old). The
Nadim (45 years old) decided to form a Limited Partnership with his son Adnan (16 years old) and his daughter Dora (15 years old). The company was named Nadim for General Trading. Nadim later on broke up with his wife and discovered that Adnan transferred his parts to his mother Naya. Nadim objected on this transfer while Naya insisted on it since Adnan was 18 years old at the date of the transfer.
Can Adnan and Dora be partners in the aforementioned company? *
Yes, since they will be silent partners
Yes, since it is a family business
Yes, since they will be active partners
No, since they must be qualified
Is the transfer between Adnan and Naya valid? *
No, since the transfer needs approval of silent partner only
No, since transfer for a 3rd party needs approval of all other partners
Yes, since the company is a family business
Yes, since Adnan was 18 years old at the date of the transfer
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