BU231 Chapter Notes - Chapter 8: Ebay, Natural Person, Insurable Interest
Document Summary
Formation of a contract: capacity to contract and legality of object. If the defendant can prove either of these to be false, they will be relieved of their contractual obligations. If the minor is the seller he cannot reclaim the goods unless he returns the money: a seller cannot rely on a statement by a minor that his parents will pay for a purchase. Involves ongoing obligations paid in installments: examples: cell phone bill, car lease, fitness club membership. Enemy aliens: ordinarily, an alien has the same rights as a citizen in making contracts and in all other matters of private law, alien - a non-citizen. In the event of a declaration of war, an enemy alien loses all contractual capacity. Bankrupt debtors: during bankruptcy proceedings, a debtor is under certain contractual disabilities until after he receives a discharge from the court.
