NOTES


CA-Foundation > Business Laws > The Indian Contract Act, 1872 - Capacity to Contract >

The Indian Contract Act, 1872 - Capacity to Contract Notes

Q1. Who are the persons disqualified to entered into contract?

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Q2. Wamika is the wife of Habib, who is lunatic, purchases a diamond set of ₹ 10 lacs from Beauty Jeweller on credit. Referring to the provisions of the Indian Contract Act, 1872, decide whether the Beauty Jeweller is entitled to claim the above amount from the property of Habib.

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Q3. Xavier, a minor was studying in M.Com in a college. On 1st July, 2005 he took a loan of ₹ 10,000 from Baadal for payment of his college fees and to purchase books and agreed to repay by 31st December, 2005, Xavier possesses assets worth ₹ 2 lakhs. On due date Xavier fails to pay back the loan to Baadal . Baadal now wants to recover the loan from Xavier out of his (Xavier's) assets. Referring to the provisions of the Indian Contract Act, 1872 decide whether Baadal would succeed.

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Q4. Maadhav supplied necessaries of life to the wife and children of a lunatic. Can Maadhav recover the payment? If so, from, whom?

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Q5. "Even if a minor is not competent to a contract, nothing in the Contract Act prevents him from making the other party bound to the minor". Comment.

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