TABL1710 Study Guide - Final Guide: Corporations Act 2001
19 Jul 2018
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Chap 10: capacity of the parties: only normal, sane, sober adult person has full capacity to make contract. Legislation in all states provides for full contractual capacity from age of 18 minors (property and contracts) act 1970 (nsw: as far as infant is concerned, whether contract is valid/void/voidable depends on what contract is about. Question of fact: however, even if contract is established, it can be void if it contains harsh or onerous terms infant bound to pay only reasonable price. Beneficial contracts of service: these are contracts of employment, apprenticeship, training or education and can contain unfavourable terms. 100 as advance but repudiated agreement before partnership began to operate total failure of consideration. Includes purchases of non-necessaries and trading contracts: cannot be enforced against infant during infancy nor after attaining majority unless the (now) adult elects to ratify it. Infants are generally liable for any torts that they may commit not liable for tort connected with contract.
