BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
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Detailed explanation-1: -The Supreme Court has held that a sale of minor’s property by guardian can be avoided only by filing a suit to set aside the deed within the period of limitation prescribed under Article 60 of the Limitation Act, which is three years from the date of attaining majority by the minor.
Detailed explanation-2: -To impeach the transfer of immovable property by the guardian, the minor must file the suit within the prescribed period of three years after attaining majority.”
Detailed explanation-3: -According to the Limitation Act of 1980, lawsuits founded on the law of tort (i.e., civil wrongs) or infringement must be filed within 6 years of the claim for damages arising, which is either the date of the act or omission or the date of the breach of contract, respectively.
Detailed explanation-4: -The applicable law i.e. The Limitation Act, 1963, provides for provisions in relation to the setting aside a transfer of property made by a guardian of a ward, when the ward has attained majority within three years from the date of attaining majority.