BUSINESS ADMINISTRATION
BUSINESS LAW
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Anti-fraud
|
|
|
Valid contract
|
|
|
Fraud
|
|
|
None of these answers
|
Detailed explanation-1: -Effects of a Minor’s Agreement if a minor enters into a contract by misrepresenting the age, then no one can stop him or her from disclosing their age. The minor is not liable for inducing another party into a contract. Even if any mishaps take place, he is not responsible.
Detailed explanation-2: -He cannot be made personally liable. Where an adult and a minor jointly enter into an agreement with a third party, the minor cannot be held liable but the contract as a whole can be enforced against the adult [Jamna Bai v Vasanta Rao ]. The liability will be of the principal even of the agent is a minor.
Detailed explanation-3: -Fraud can be defined as the deliberate and willful representation of false information in order to deceive the other party and make them enter into a contract. Whereas misrepresentation can be defined as an unintentional act of providing false information.
Detailed explanation-4: -The position is – even though a minor has entered into a contract by distorting his age, he can, at any later stage, plead “minority” and escape a contract.