In partnership law, a partnership is defined as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. Certain categories of persons cannot legally become partners:

Who cannot be partners:

1. Minors: A minor (person below 18 years) cannot enter into a contract, and partnership is based on a contract. However, a minor can be admitted to the benefits of partnership with the consent of all partners.
2. Insolvents: A person declared insolvent cannot become a partner as they lose the capacity to enter into contracts until discharged from insolvency.
3. Co-owners without agreement: Mere co-ownership of property does not create a partnership. There must be an agreement to carry on business and share profits.

Therefore, all of the above categories cannot be called partners in the legal sense.

Related Topics:

Partnership Agreement: The foundation of partnership that defines rights, duties, and profit-sharing ratio among partners.

Types of Partners: Includes active partners, sleeping partners, and nominal partners who have different roles and liabilities.

Dissolution of Partnership: The process of ending a partnership due to retirement, death, or insolvency of a partner.

Key Formulae/Concepts:

While partnership doesn't involve mathematical formulae, the legal definition is crucial:

Partnership = Agreement + Business + Profit-sharing + Mutual Agency

Where mutual agency means each partner can bind the firm through their actions.