CA Foundation Exam > CA Foundation Questions > Which of the following statement is true?a)A ...
Start Learning for Free
Which of the following statement is true?
- a)A contract with a minor is voidable at the option of the minor.
- b)An agreement with a minor can be ratified after he attains majority.
- c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.
- d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.
Correct answer is option 'D'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Which of the following statement is true?a)A contract with a minor is ...
Most Upvoted Answer
Which of the following statement is true?a)A contract with a minor is ...
Explanation:
A contract is a legally binding agreement between two or more parties. However, for a contract to be valid, both parties must have the legal capacity to enter into the agreement. Legal capacity means that a person has the ability to understand the terms and consequences of the contract.
In this context, the statement "A person who is usually of a sound mind cannot enter into a contract when he is of unsound mind" is true. Here are some explanations:
Unsound Mind:
A person is considered to be of unsound mind if they suffer from any mental disorder, whether temporary or permanent. In such a case, the person may not be able to understand the terms and consequences of the contract. Thus, they cannot enter into a legally binding agreement.
Sound Mind:
A person is considered to be of sound mind if they have the ability to understand the terms and consequences of the contract. However, if a person who is usually of sound mind enters into a contract when they are of unsound mind due to any reason (such as illness, injury, or intoxication), then the contract is considered voidable.
Voidable Contract:
A voidable contract is a contract that can be canceled by one or both parties. In the case of a person who is usually of sound mind but enters into a contract when they are of unsound mind, the contract is voidable at the option of the person who was of unsound mind at the time of entering into the contract. This means that the person has the right to cancel the contract if they wish to do so.
Conclusion:
In conclusion, a person who is usually of a sound mind cannot enter into a contract when they are of unsound mind. Such a contract is voidable at the option of the person who was of unsound mind at the time of entering into the agreement.
A contract is a legally binding agreement between two or more parties. However, for a contract to be valid, both parties must have the legal capacity to enter into the agreement. Legal capacity means that a person has the ability to understand the terms and consequences of the contract.
In this context, the statement "A person who is usually of a sound mind cannot enter into a contract when he is of unsound mind" is true. Here are some explanations:
Unsound Mind:
A person is considered to be of unsound mind if they suffer from any mental disorder, whether temporary or permanent. In such a case, the person may not be able to understand the terms and consequences of the contract. Thus, they cannot enter into a legally binding agreement.
Sound Mind:
A person is considered to be of sound mind if they have the ability to understand the terms and consequences of the contract. However, if a person who is usually of sound mind enters into a contract when they are of unsound mind due to any reason (such as illness, injury, or intoxication), then the contract is considered voidable.
Voidable Contract:
A voidable contract is a contract that can be canceled by one or both parties. In the case of a person who is usually of sound mind but enters into a contract when they are of unsound mind, the contract is voidable at the option of the person who was of unsound mind at the time of entering into the contract. This means that the person has the right to cancel the contract if they wish to do so.
Conclusion:
In conclusion, a person who is usually of a sound mind cannot enter into a contract when they are of unsound mind. Such a contract is voidable at the option of the person who was of unsound mind at the time of entering into the agreement.
Free Test
FREE
| Start Free Test |
Community Answer
Which of the following statement is true?a)A contract with a minor is ...
What is mean by unsound mind and sound mind . can anyone plz help me to clear it
okay i got it.... thanks for helping me..
so when a person is unsound means he is not in a proper state of mind or suffering from any mental disorders cannot come into the contract.. so its necessary that person who come in contract must be mentally fit and then he can come i to contract
okay i got it.... thanks for helping me..
so when a person is unsound means he is not in a proper state of mind or suffering from any mental disorders cannot come into the contract.. so its necessary that person who come in contract must be mentally fit and then he can come i to contract
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer?
Question Description
Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer?.
Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer?.
Solutions for Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Which of the following statement is true?a)A contract with a minor is voidable at the option of the minor.b)An agreement with a minor can be ratified after he attains majority.c)A person who is usually of an unsound mind cannot enter into contract even when he is of a sound mind.d)A person who is usually of a sound mind cannot enter into contract when he is of unsound mind.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup