Q: Construe the solution of problem of contract with minor person as stated below ?
Problem Statement: A borrows five thousand rupees from B, a minor and in security , he got mortgage of certain property of B. B sues A for the payment of the mortgage money on his attaining majority. Will B be successful? Solution - The problem presented is based on section 10 and Section 11 of the Indian Contract Act, 1872. According to section 10 of Indian Contract Act , all agreements are contracts, if they are made with the free consent of the parties competent to contract, for a lawful consideration and for a lawful object, and are not hereby declared to be expressly void. Section 11 of Indian Contract Act states that only persons who have attained majority in conformity with the law are competent to contract. Therefore, there must be a law that defines the age of majority. In India, the Indian Majority Act, 1875 declares the age of majority of all persons to be 18 years. If a minor has a guardian or Court of Ward looking after him, his age of majority becomes 21 year...