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Chapter 8

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This document discusses several key concepts regarding contract capacity and validity, including: 1) Minors can disaffirm (void) contracts, with exceptions for necessities and misrepresentation of age. Intoxicated persons may lack capacity depending on impairment level. 2) Contracts must be legal and not require illegal, tortious or against public policy acts. Illegal contracts are void. 3) Fraud, mistake, duress or undue influence can make contracts voidable or invalid. The statute of frauds requires certain long-term or high-value contracts to be written.

BusinessEducation
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CHAPTER 8 Capacity, Legality, Assent, and Form
[object Object],[object Object],[object Object],[object Object],[object Object],Learning Objectives
Contractual Capacity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Minors ,[object Object],[object Object],[object Object]
Minorโ€™s Right to Disaffirm ,[object Object],[object Object],[object Object]
[object Object],[object Object],Minorโ€™s Obligation on Disaffirmance
Exceptions to Minorโ€™s Right to Disaffirm ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Exceptions to Minorโ€™s Right to Disaffirm ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Ratification ,[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Parentโ€™s Liability
Intoxicated Persons ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Mentally Incompetent Persons ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Legality ,[object Object],[object Object],[object Object]
Contracts Contrary to Statute ,[object Object],[object Object],[object Object],[object Object],[object Object]
Contracts Contrary to Public Policy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Contracts Contrary to Public Policy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Illegality: Exceptions ,[object Object],[object Object],[object Object],[object Object],[object Object]
Mistake ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Mistake ,[object Object],[object Object]
Fraudulent Misrepresentation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Undue Influence & Duress ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Statute of Frauds ,[object Object],[object Object],[object Object],[object Object]
Statute of Frauds ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Chapter 8

  • 1. CHAPTER 8 Capacity, Legality, Assent, and Form
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