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Section 12 of ICA
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Section 12 of ICA

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Transcript

  • 1. Indian Contract ActSection 12
    GauravTaranekar
    09PR001012B067
  • 2. Agenda
    Sound Mind for the purpose of contracting
    Analysis
    Conclusion
    Financial Management
    2
    Group 9 PROTON business school
  • 3. Section 12 of ICA
    A person is said to be of sound mind for the purpose of making a contract if, at the time when he makes it, he is capable of understanding it and of forming a rational judgment as to its effect upon his interests.
    Special Cases
    A person who is usually of unsound mind, but occasionally of sound mind, may make a contract when he/she is in sound mind.
    A person who is usually of sound mind, but occasionally of unsound mind, may not make a contract when he/she is of unsound mind.
    Financial Management
    3
    Group 9 PROTON business school
  • 4. Illustration
    A patient in a lunatic asylum, who is at intervals of sound mind, may contract during those intervals.
    A same man, who is delirious from fever or who is so drunk that he cannot understand the terms of a contract or form a rational judgment as to its effect on his interests, cannot contract whilst such delirium or drunkenness lasts.
    Financial Management
    4
    Group 9 PROTON business school
  • 5. Thank You
    Group 9
    Schumpeter Hall
    12/20/2009
    Group 9 PROTON business school
    5