53.
The answer is: C
Explanation
The correct option is C: Both age & soundness of mind.
Competency to contract means the legal ability of a person to enter into a valid and enforceable contract. According to Section 11 of the Indian Contract Act 1872, every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is of sound mind and is not disqualified from contracting by any law to which he is subject. Therefore, both age and soundness of mind are essential factors for determining the competency of a person to contract.
Age of majority is the age at which a person is legally recognized as an adult and can make decisions for himself or herself. In India, the age of majority is regulated by the Indian Majority Act 1875, which states that every person domiciled in India attains majority on the completion of 18 years of age, except when a guardian of a minor's person or property has been appointed by the court, in such case it is 21.
Soundness of mind means the mental capacity of a person to understand the nature and consequences of his or her actions and decisions. A person is said to be of sound mind if he or she is not suffering from any mental disorder or defect that impairs his or her judgment or reasoning. A person who is intoxicated, insane, delirious, or in a state of unconsciousness is not considered to be of sound mind.
Disqualification from contracting by any law means the legal restriction or prohibition imposed on a person by any statute or rule that prevents him or her from entering into a contract. For example, a person who is declared insolvent, an alien enemy, a convict, or a corporation exceeding its powers is disqualified from contracting by law.
Intelligence of the parties is not a relevant factor for competency to contract, as it does not affect the legal validity or enforceability of a contract. A person may be intelligent or not, but as long as he or she satisfies the conditions of age, soundness of mind, and no disqualification by law, he or she is competent to contract. Therefore, option D is incorrect.