B LAW 220 Lecture Notes - Lecture 1: Life Insurance, Undue Influence
Document Summary
In ny, even if the minor misrepresented his age he can still back out of the contract but the adult can also void the contract because of misrepresentation. Loans, banks accounts, life insurance policies, cooperate stock, contracts involved in running in business. If a minor wants to void a contract he must return the property for his. If a contract is made by minor, parent are not liable for it: incompetent people: the law is intended to protect incompetent people, contract made by incompetent people are avoidable by the incompetent people or their guardian. If someone is legally incompetent they are no longer able to make contracts: intoxicated people: Intoxication is not a valid defense to a contract claim: you cannot back out of a deal if are intoxicated (2 exceptions are) If you can prove the other party induced your intoxication then possibly the court may hear your claim.
