J, a minor, borrows ₹2 lakh from a money-lender to buy a luxury mobile phone, and separately purchases essential food and clothing on credit from a shopkeeper. As per the Indian Contract Act, 1872 -

Under Section 11 of the Indian Contract Act, 1872, an agreement with a minor is void ab initio, so the money-lender cannot enforce the loan against J or his estate. Section 68, however, creates a statutory exception: where necessaries suited to the condition in life of a person incapable of contracting are supplied to him, the supplier may recover their price from the property of that person. The essential food and clothing qualify as necessaries, so the shopkeeper can claim against J's property, though not against J personally. The cash advanced for a luxury phone is not a necessity and is irrecoverable. The guardian is not personally liable merely because of the minority. The third option states the correct position.