Loans given for necessaries - void contracts, Business Law and Ethics

Assignment Help:

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.


Related Discussions:- Loans given for necessaries - void contracts

contrary case, a) Two family businesses are competing in the same industry...

a) Two family businesses are competing in the same industry, and have been bitter rivals since their early days.  The feud eventually extended into the personal lives of each famil

discuss recent legislation related to ethical computing, Throughout this c...

Throughout this course, you have analyzed and discussed case studies and issues on key ethical issues in information technology. Now it is time to consider how these theories apply

What is cyber crime?, Question 1 Explain the sections 167 and 172 of the I...

Question 1 Explain the sections 167 and 172 of the Indian penal code Question 2 Write a note on the Cyber Regulations Appellate Tribunal Question 3 Write a note on Digit

Proof of debts, PROOF OF DEBTS:                                       ...

PROOF OF DEBTS:                                       Many of the rules of bankruptcy apply to the discharge of the company's debts: s.310.  The liquidator must obviously requ

Explain The international court of justice, Normal 0 false fa...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Meaning of public, Meaning Of "Public":                    For the pur...

Meaning Of "Public":                    For the purposes of the prospectus issue the word "public" is declared by S.57 (1) to include "any section of the public, whether selec

What are the key elements of a conflict, Question: (i) Define the te...

Question: (i) Define the term "conflict", "grievance" and "dispute" (ii) What are the key elements of a conflict? (iii) Describe the transformation process of a

Probabilities for various ratios, I am an executive being transferred from ...

I am an executive being transferred from my home city on the west coast to one in the Midwest. I know nothing about the city I'm moving to, but I have to buy a house there. Realtor

Problem question, how do i answer a problem question in law base on the law...

how do i answer a problem question in law base on the law of contract for final assesment

Find out the tort, 1. Chuck walked into a room. As a joke, Matt stuck his l...

1. Chuck walked into a room. As a joke, Matt stuck his leg out so that Chuck would trip Chuck tripped and in so doing, dropped the bottle of soda he was carrying. In the

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd