CA Foundation Exam > CA Foundation Questions > A person who enters into a contract with a mi...
Start Learning for Free
A person who enters into a contract with a minor is _____.
- a)Responsible for Losses arising out of contract.
- b)Not responsible for all the losses.
- c)Responsible for giving compensation granted to a suit
- d)Cannot sue the minor.
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
A person who enters into a contract with a minor is _____.a)Responsibl...
A minor cannot disaffirm part of a contract and agree to another part of a contract; the contract is considered in its entirety.
Ratification. A contract can only be disaffirmed while the individual is a minor. After the person reaches maturity, if the contract continues, the former minor is considered to have ratified the contract and is now bound by the contract terms. A person may ratify by signing something, or by continuing to abide by the contract (making payments, for example).so Cannot use the minor.
Free Test
FREE
| Start Free Test |
Community Answer
A person who enters into a contract with a minor is _____.a)Responsibl...
Explanation:
Contract with a Minor:
- A person who enters into a contract with a minor is not allowed to sue the minor for any losses or damages arising out of the contract.
- This is based on the legal principle that a minor does not have the capacity to enter into a legally binding contract.
- As a result, the minor is not held liable for any obligations under the contract.
Protection of Minors:
- The law protects minors from being taken advantage of in contracts by making it voidable at the option of the minor.
- This means that the minor can choose to either enforce the contract or void it without any legal consequences.
- The purpose of this rule is to safeguard the interests of minors and prevent them from being bound by agreements that they may not fully understand.
Responsibility of the Adult:
- The adult who enters into a contract with a minor is responsible for any losses or damages that may arise as a result of the contract.
- The adult cannot seek compensation from the minor for any losses incurred.
- It is the responsibility of the adult to be aware of the legal implications of entering into a contract with a minor and to act accordingly.
In conclusion, when a person enters into a contract with a minor, they cannot sue the minor for any losses or damages. The responsibility lies with the adult to understand the legal implications and consequences of entering into a contract with a minor.
Contract with a Minor:
- A person who enters into a contract with a minor is not allowed to sue the minor for any losses or damages arising out of the contract.
- This is based on the legal principle that a minor does not have the capacity to enter into a legally binding contract.
- As a result, the minor is not held liable for any obligations under the contract.
Protection of Minors:
- The law protects minors from being taken advantage of in contracts by making it voidable at the option of the minor.
- This means that the minor can choose to either enforce the contract or void it without any legal consequences.
- The purpose of this rule is to safeguard the interests of minors and prevent them from being bound by agreements that they may not fully understand.
Responsibility of the Adult:
- The adult who enters into a contract with a minor is responsible for any losses or damages that may arise as a result of the contract.
- The adult cannot seek compensation from the minor for any losses incurred.
- It is the responsibility of the adult to be aware of the legal implications of entering into a contract with a minor and to act accordingly.
In conclusion, when a person enters into a contract with a minor, they cannot sue the minor for any losses or damages. The responsibility lies with the adult to understand the legal implications and consequences of entering into a contract with a minor.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer?
Question Description
A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer?.
A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer?.
Solutions for A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.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 A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A person who enters into a contract with a minor is _____.a)Responsible for Losses arising out of contract.b)Not responsible for all the losses.c)Responsible for giving compensation granted to a suitd)Cannot sue the minor.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup