Which of the following statement (s) is/are NOT correct in the context of Indian Contract Act? |
Any person, irrespective of age, who is of sound mind is competent to enter into a contract. Minors are competent to enter into a contract in certain cases only. A Convict is not competent to enter into a contract. All of the above |
Any person, irrespective of age, who is of sound mind is competent to enter into a contract. |
Any person who is a major, i.e., above 18 years of age, is competent to enter into a contract and minors are not competent to enter into a contract. The exception to this rule is that, if a minor enters into a contract and the enforcement of such contract is beneficial for the minor then it will not be held to be void.
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