BSLW1102 Chapter Notes - Chapter 14: Loan Guarantee
20 Jun 2016
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Chapter 14: capacity and genuine assent: contractual capacity, defined. A. 1. is the ability to understand that a contract is being made and to understand its general meaning. A. 2. everyone is assumed to have capacity unless it is proven capacity is lacking or there is status incapacity. A. 3. b) used to protect people like minors before used to keep people form getting contracts. A. 4. a) incapacity because of the class or group to which a person belongs (a. 4. a. 1) (a. 4. a. 2) may exist under mental condition not mental weakness: minors. B. 3. b) can dismiss a contract before 18 at 18 can affirm a contract by performing. expressly approving or by al- lowing a reasonable time to lapse what constitutes avoidance. B. 3. c) (b. 3. c. 1) by expression or intention to repudiate the contract. B. 3. d) time for avoidance (b. 3. d. 1) only as a minority can disaffirm or after a reasonable time of being majority.
