IGNOU BCOC 133 2026 - Who is competent to contract? State the position of contract

Question

Who is competent to contract? State the position of contracts with a minor.

12 Feb 2026

Answer :

Word Count : 495

Competence to contract is a fundamental principle in business law that determines whether a person has the legal capacity to enter into a contract. According to the Indian Contract Act, 1872, a person is considered competent to contract if they fulfill certain conditions. Firstly, the person must be of the age of majority, which is 18 years or above. Secondly, the person must be of sound mind at the time of making the contract, meaning they should understand the nature and consequences of the agreement. Thirdly, the person must not be disqualified from contracting by any law to which they are subject. These conditions ensure that the parties entering into a contract have the necessary understanding and legal capacity

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