LAW 529 Lecture 3: Law529 Lecture 3
Document Summary
The law presumes that contracts with persons under 18 are void; This presumption is rebuttable if the contract is beneficial to the person under 18. If a person has been legally declared to lack mental capacity, his or her contracts are void and not enforceable; If a person lacks mental capacity, even though this is not legally declared, his or her contracts are voidable if he or she lacked mental capacity at the time of contracting; The contract is voidable only if the other contracting party(s) should have recognized the mental incapacity; The (cid:272)o(cid:374)t(cid:396)a(cid:272)t (cid:373)ust (cid:271)e (cid:448)oided (cid:449)ithi(cid:374) a (cid:862)(cid:396)easo(cid:374)a(cid:271)le(cid:863) pe(cid:396)iod of ti(cid:373)e afte(cid:396) (cid:272)o(cid:373)pete(cid:374)(cid:272)(cid:455) is re-established. Intention to contract: mutual intention arises if a reasonable person would believe that the parties intended to create a legally enforceable agreement. It is not concerned with what the parties actually may have intended. The presence of offer and acceptance is a contextualized, factual determination.
