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Question
Select the correct statements about 14th finance Commission which submitted its report to President
1. It covers the period between 1 April 2015 and 31 March 2020.
2. The Comtrtiss1on headed by former RBl Governor Y V Reddy
3. Provides for devolution of tax receipts from the Centre to the States
4. Article 280 of constitution provides for appointment of Finance commission.
5. 1st and 13th Finance COmmiSSion was headed by K C Neogy & Dr. Vijay Kelkar respectively.
Options
1, 3 & 5 are correct
1, 2 & 3 are correct
1, 3 & 4 are correct
AII are correct
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Solution
AII are correct.
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In this Question, the problem consists of a set of rules and facts. Apply the specified rules to the set of facts and answer the question.
Rules:
A. A minor is a person who is below the age of eighteen. However, where a guardian administers the minor's property the age of majority is twenty-one.
B. A minor is not permitted by law to enter into a contract. Hence, where a minor enters into a contract with a major person, the contract is not enforceable. This effectively means that neither the minor nor the other party can make any claim on the basis of the contract.
C. In a contract with a minor, if the other party hands over any money or confers any other benefit on the minor, the same shall not be recoverable from the minor unless the other party was deceived by the minor to hand over money or any other benefit. The other party will have to show that (he minor misrepresented her age, he was ignorant about the age of the minor and that he handed over the benefit on the basis of such representation.
Facts Ajay convinces Bandita, a girl aged I8 that she should sell her land to him. Bandita's mother Chaaru is her guardian. Nonetheless Bandita, without the permission of Chaaru, sells the land to Ajay for a total sum of rupees fifty lakh, paid in full and final settlement of the price. Chaaru challenges this transaction claiming that Bandita is a minor and hence the possession of the land shall not be given to Ajay. Thus Ajay is in a difficult situation and has no idea how to recover his money from Bandita.
In order to defend the sale, Bandita will need to show that
Mark the best option:
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