Management and Organizational Studies 2275A/B Chapter Notes - Chapter 8: Undue Influence, Unconscionability, Rescission

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Legal doctrines are exceptions to the general rule that a contract, once formed, is enforceable. The doctrines are categorized on the basis of there being: An unequal relationship between the two parties. Misrepresentation or important mistakes concerning the contract. Voidable contract: a contract that, in certain circumstances, an aggrieved party can choose to keep in force or bring to an end. Void contract: a contract involving a defect so substantial that is is of no force or effect. Law assumes individuals and corporations have legal capacity, consent, and voluntariness. Minors people under age of majority are typically not obliged to contracts they make. Voidable at the option of the minor minors can seek to enforce a contract. Food, shelter, and clothing are the most common categories of necessaries. Beneficial contracts of service are also binding if they are considered largely for the benefit of the minor (i. e. employment contract + training and career development)