94+ Lawyers are online 
Asking for legal advice in financial issues of individual
07-Sep-2023 (In Corporate Law)
A mother who runs the business has used her daughter's name to run the company. She changed ownership just after the daughter's legal age. The parent used the girl's name for procuring various loans with her as a guarantee. The girl innocently signed wherever the elder had asked her to sign not knowing she was about to be implied in huge amount of debt from banks and private lenders.
Last November, the mother left the house without paying the debt or taking any protection for her daughter.
What can be done in this case to protect the daughter with minimum amount of damage to the daughter?
if all those contracts are signed when she is a minor, then all those contracts will be voidable.
but if the girl affirmed or ratified the contracts after turning major, then those contracts will be binding. if the girl is still minor, all the contracts signed by her are voidable.
but if the girl affirmed or ratified the contracts after turning major, then those contracts will be binding. if the girl is still minor, all the contracts signed by her are voidable.
Helpful?
Adv. H Ravi Shankar
Hyderabad | 25+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Corporate lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
