Examveda
Examveda

A minor borrowed some money on a promissory note. After attaining majority, he executed another promissory note in respect of the original loan plus the accrued interest. The creditor filed a suit to recover the money on the basis of the second promissory note. The suit is liable

A. To be dismissed as the money was not advanced to the minor for necessaries

B. To be dismissed as the first promissory note being void cannot constitute a valid consideration

C. To be decreed as the second promissory note was executed when the debtor had become major

D. To be decreed as the loan given under the first promissory note constitutes past consideration and the past consideration is valid under the Indian law

Answer: Option A


This Question Belongs to Law >> Negotiable Instruments Act

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Related Questions on Negotiable Instruments Act

The term 'legal representative' in section 29 of the Negotiable Instruments Act, 1881

A. Does not include executors or administrator (Rama v. Praoin, AIR 1926 Mad 389)

B. Includes executors or administrator (K. Subbanna v. K. Subbarayudu, AIR 1926 Mad 390)

C. Includes executors but does not include administrators (P. Nayar v. T. Ramanna, AIR 1929 Mad 389)

D. Includes only administrators but does not include executors (P. K. Pati v. Damodar Sahu, AIR 1953 Ori 179)