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From section 10 and section 11 of the Indian Contract Act, it is clear that the person, by reason of infancy, is incompetent to contract. Consequently, a minor’s agreement is void ab initio and cannot be enforced by either of the parties to the contract. Ratification of minor’s agreement: An agreement with a minor is void and therefore, it cannot be ratified by him after attaining the age of majority and the consideration given to the minor during minority cannot be a valid consideration for the promise made by him after attaining the majority. Further Section 12 states that: What is a sound mind for the purposes of contracting: A person is said to be of sound mind for the purpose of making a contract, if, at the time when he makes it, he is capable of understanding it and of forming a rational judgment as to its effect upon his interests. A person who is usually of unsound mind, but occasionally of sound mind, may make a contract when he is of sound mind. A person who is usually of sound mind, but occasionally of unsound mind, may not make a contract when he is of unsound mind.
With which country’s small and medium enterprise department has India’s MSME ministry recently collaborated?
Nagpur Plan classifies roads in India into how many categories?
In the year _____, G7 (Group of Seven) countries agreed to adopt new Digital Trade Principles to guide the group's approach to digital trade.
Consider the following statements regarding sustainable development and climate change.
1. The year 2019 marked the fourth anniversary of the ...
What significant milestone did the mutual fund industry achieve in December 2023, as per the data released by AMFI?
Name the French jeweller who travelled to India at least six times during the Mughal period.
An attempt to obtain sensitive information such as username, password and credit card details, etc. for malicious reasons is termed as:
The First Economic Census of India was conducted throughout the country, except Lakshadweep, during ___________in collaboration with the States/Union Te...
Which of the following microfinance institutions was established in India at the time of independence?