LAW 122 Chapter Notes - Chapter 10: Fiduciary, Meeting Of The Minds, Undue Influence

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Alexander Stack

Document Summary

A person cannot enter into a contract unless they have the legal power to give consent. To protect specific groups of ppl, the law has drawn a distinction b/t those who have the capacity to contract and those who do not: capacity: is the legal power to give consent. O(cid:373)eti(cid:373)es the (cid:395)uestio(cid:374) of (cid:272)apa(cid:272)it(cid:455) depe(cid:374)ds o(cid:374) a pe(cid:396)so(cid:374)"s a(cid:271)ilit(cid:455) to u(cid:374)de(cid:396)sta(cid:374)d the (cid:374)atu(cid:396)e & consequences of their actions. We will consider 7 groups of persons who may have no capacity or only limited capacity to create a contract: minors, mentally disable persons. The law simply says that everyone under the age of majority lacks capacity. In some jurisdictions (i. e. alberta, saskatchewan, ontario) the age of majority is 18 years. In other provinces (newfoundland, new brunswick, b. c. ) the age of majority is 19. If a contract is voidable, the minor may elect to avoid contractual liability. If so, they are relieved of all future liabilities under the contract.