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 & Solution

Correct Answer: Option A

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A minor borrowed some money on a promissory note After attaining...

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

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