M is a minor, B, the borrower, approaches M for a loan on the basis of a mortgage of the house owned by B. Hence, M advances the money and B executed a mortgage in favour of M, a minor. In these circumstances

Related MCQs

• Lending money to a borrower, at high rate of interest, when the money market is tight renders the agreement of loan:
• A minor enters into agreement representing himself to be a major consider the following statement: 1. Minor commits fraud if the other party does not have personal knowledge of his age 2. Such agreement is not enforceable 3. The doctrine of estoppel does not apply in minor's case 4. Other party is entitled to get back the benefit passed to minor, if innocent about his age Which of the statements given above are correct?
• Is a pronote executed in favour of a minor good in law?
• A mortgage executed by minor is……………
• 'A' threatened to commit suicide if his wife did not execute a sale deed in favour of this brother. The wife executed the sale deed. This transaction is:
• A borrows ` 5,000 from B to purchase a revolver to shoot C. Can B recover his loan of ` 5,000, assuming that B knows the purpose of the loan.
• A makes a contract with B to buy his house for ` 50,000 if he is able to secure to bank loan for that amount. The contract is
• A, while filling up the insurance application form, states his age as 25 believing it to be true. His actual age was 27. The Life Insurance Corporation issued a policy in his favour charging a lower premium than what it should have charged if the actual age had been given. This is a case of
• Which one of the following is relevant in normal circumstances in determining the amount of damages for breach of contract?
• P engages B to kill C and borrows ` 100 from D to pay B. If D is aware of the purpose of the loan, the transaction is