Question

11. Discuss the position of guarantee in respect of loans to a minor.

Answer 1

Answer:

One of the essential ingredient of a valid contract stated in Section 10 is that the parties making the agreement must be competent to contract. Any one cannot enter into a contract, he must be competent to contract according to the law.

Section 11 provides that every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is of sound mind, and is not disqualified from contracting by any law to which he is subject. In simple words, a person who is of the age of majority, of sound mind and is not disqualified by law from contracting is competent to contract. Age of Majority. Section 3 of the Indian Majority Act declares every person to be of the age of majority who has completed 18 years of age. However, where a guardian has been appointed to a minor or his property, he attains majority at the age of 21.

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Answer 2

Answer:

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