BALW20150 Chapter Notes - Chapter 14: Standard Form Contract, Consideration, Usury
28 Feb 2017
School
Department
Course
Professor
Document Summary
Contractual capacity= the legal ability to enter into a contractual relationship: one of the requirements of a valid contract, capacity may be lacking or questionable when a person is young or mentally incompetent. Contract entered into by a minor is voidable at the option of that minor. Minor needs to clearly show an intention not to be bound by contract in order to avoid a contract: disaffirmance= the legal avoidance, or setting aside, of a contractual obligation. To disaffirm, minor must express his/her intent, through words or conduct, not to be bound to contract suit contractual duties just because the minor can. Must disaffirm entire contract, not just portion of it. Ex. minor can disaffirm liability waiver after getting injured and filing. On disaffirming a contract, minor can recover any property that. An adult who enters into a contract with a minor can"t avoid his/her.
