Question
A contract with a minor is void ab initio was held in
the landmark case of __________________Solution
Contract Act- In the case of Mohori Bibee vs. Dharmodas Ghose the Privy Council expressly barred any person below the age of eighteen years to enter into a contract, and take major decisions in relation to the same. In Nash vs. Inman it was held that any contract with a minor is void and a minor may contract for necessaries but it will not be enforceable unless they are necessary for his life and he does not already have enough of it. If either of these things are disputed, the onus is on the plaintiff to prove them. Kedar Nath vs. Gorie Mohammad the Court held that an agreement without consideration is valid and binding if on the faith of the promise, the promisee takes definite steps in furtherance of the object. Damodar Murlidhar vs. Secretary of State of India it was that no one should be benefited at another's expense.
Market is a place of ______.
What percent of shareholding is under National Bank for Agriculture and Rural Development (NABARD) in Agriculture Insurance Company of India Limited?
In which type of insurance, schemes are offered by insurance companies to provide certain classes of individuals, the benefit of insurance coverage at m...
A policy that covers loss or damage to a householder's property is:
Which feature is not allowed in the Indian insurance market?Â
Reinsurance placed with a company not authorized in the reporting company’s state of domicile is called?
The amount charged by the insurer to provide the life cover to policy holder on the life of the life Insured is known as?
The portion of risk that a reinsurance company cedes or amount of insurance the company chooses not to retain is called?
What does the preamble of an insurance policy NOT typically include?
The 'Own Damage' cover in a motor insurance policy protects the insured against: