months of becoming a major repudiate his liability as a partner.
Otherwise he can be held liable for the debts of the partnership.
• A minor can be an agent but he cannot be held responsible to his
• A married woman may enter into a valid contract. She may open a
• With regard to debts taken the husband will not be liable unless the
loan is taken with his consent and authority or it is for the necessaries
• As a pardanashin women is normally completely secluded and does
not generally deal with the public at large, it is presumed that:
1. Any contract that she enters may have been subject to undue
2. The contract may not have been made freely and with full
understanding of the contract.
• To enforce the contract the other person will have to prove that the
limitations mentioned above do not exist.
• Accounts may be opened for illiterate persons.
• As they cannot sign their names their thumb impressions are usually
taken. These should be attested by a person known to the bank.
• Normally illiterate persons are not given cheque books. To withdraw
money the account holder is expected to come in person and affix his
thumb impression in the presence of a bank official for identification.
• There is no legal bar in two illiterate persons having a joint account.
• Ideally account opening forms should have a clause wherein it is
stated that the terms of account opening and banking has been
explained to the account holder. The account holder should affix his
thumbprint in the presence of a witness/ official.
• Lunatics and persons of unsound mind are not competent to enter
into a valid contract.
• Accounts should not be opened for persons of unsound mind. • If a
banker has discounted a bill written, accepted or endorsed by a person
of unsound mind, the banker can realize the money only if he can
prove that he was not aware of the lunacy of the other person.
• All transactions in the acco