Who among the following is competent to contract?

person above 15 years of age person having unsound mind Both 1 and 2 None of the above

None of the above

Any person who is competent to contract (person above 18 years of age, having sound mind and not disqualified by any law in force) and authorized to dispose off property viz., owner of the property or any person authorized to sell the property, can make a transfer. The person who Transfers the property is called the Transferor and the person to whom the transfer is made is called the Transferee.