Which of the following statement (s) is/are NOT correct in the context of Indian Contract Act?
Answer & explanation
Correct answer: option 1
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.
Persons disqualified by law - (a) Alien enemies, (b) Foreign sovereign, 2 (c) Insolvents, (d) Convicts, (e) Corporation, (f) Barrister