Lihle, a sixteen-year-old boy, inherited horses worth R90 000 from his late grandfather. Lihle
lives in a flat with his parents. He wants to sell the horses and invest the money.
Which ONE of the following statements is CORRECT?
1 Lihle needs his parents’ assistance to sell the horses because he is a minor.
2 Lihle does not need his parents’ assistance to sell the horses because he inherited them.
3 Lihle does not need his parents’ assistance to sell the horses because he reached majority
at the age of fourteen.
4 Lihle needs his parents’ assistance to sell the horses because the value of the horses is
more than R50 000
Answers
Answer:
The answer is number one.
Explanation:
Because Lihle is under 18 years old
Concept introduction:
The Guardians and Wards Act of 1890 was not intended to be replaced; rather, it was designed to be improved upon by the Hindu Minority and Guardianship Act of 1956. With regard to guardianship ties between adults and children, as well as between persons of all ages and their respective property, this act precisely defines these connections.
Explanation:
Given that, a sixteen-year-old boy Lihle, inherited horses worth R90 000 from his late grandfather. Lihle lives in a flat with his parents. He wants to sell the horses and invest the money.
We have to find, which of the given statement about condition of selling the property is correct.
According to the question,
According to the requirements of the Hindu Minority and Guardianship Act, 1956, the natural guardian of a minor cannot sell or otherwise dispose of any property or interest in property possessed by a minor without obtaining a court order.
Final Answer:
Option 1: Lihle needs his parents’ assistance to sell the horses because he is a minor.
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