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Loans Given for Necessaries - Void Contracts
It may happen that an infant asks someone to a loan for buy necessaries like school uniforms or textbooks. Therefore the person that not being aware for the legal prohibition since agrees to lend the money and eventually does so obviously. So now what is the legal position? Because the loan is irrecoverable and the lender cannot sue thus lender for recover the money. Hence this is so since the Act does not include any exception to the prohibition.
Defects in Appointment: S.181 provides that a director's acts shall be valid despite any defect that may afterwards be discovered in his appointment or qualification. This pro
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