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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?
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Most Upvoted Answer
Which of the following statement is true?a)A contract with a minor is ...
The correct statement is option 'D': A person who is usually of a sound mind cannot enter into a contract when he is of unsound mind.
Explanation:
• Sound mind is a prerequisite for entering into a contract. A person who is usually of an unsound mind cannot enter into a contract even when he is of a sound mind.
• Similarly, a person who is usually of a sound mind but is of unsound mind at the time of entering into a contract cannot enter into a valid contract.
• A person is considered to be of unsound mind if he is incapable of understanding the terms and nature of the contract or if he is unable to communicate his consent.
• It is important for both parties to a contract to be of sound mind at the time of entering into the contract. If one of the parties is of unsound mind, the contract becomes voidable at the option of the sane party.
• The Indian Contract Act, 1872, provides for the protection of persons of unsound mind and minors from entering into contracts that may be detrimental to their interests.
Conclusion:
Hence, it is essential to ensure that both parties to a contract are of sound mind at the time of entering into the contract to make it valid and enforceable. A person who is usually of a sound mind cannot enter into a contract when he is of unsound mind.
Explanation:
• Sound mind is a prerequisite for entering into a contract. A person who is usually of an unsound mind cannot enter into a contract even when he is of a sound mind.
• Similarly, a person who is usually of a sound mind but is of unsound mind at the time of entering into a contract cannot enter into a valid contract.
• A person is considered to be of unsound mind if he is incapable of understanding the terms and nature of the contract or if he is unable to communicate his consent.
• It is important for both parties to a contract to be of sound mind at the time of entering into the contract. If one of the parties is of unsound mind, the contract becomes voidable at the option of the sane party.
• The Indian Contract Act, 1872, provides for the protection of persons of unsound mind and minors from entering into contracts that may be detrimental to their interests.
Conclusion:
Hence, it is essential to ensure that both parties to a contract are of sound mind at the time of entering into the contract to make it valid and enforceable. A person who is usually of a sound mind cannot enter into a contract when he is of unsound mind.
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Which of the following statement is true?a)A contract with a minor is ...
Because if he has the knowledge of what he does is considered, without his consciousness he can't ascertain anything
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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?
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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?.
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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.
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