ACTG 2P40 Lecture Notes - Lecture 4: Contingent Fee, Rebuttable Presumption, Life Insurance
6 Mar 2018
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Legality of contracts: illegality with respect to parties: capacity: there are three requirements, you have to be over the age of 18, it is set by statue. Cannot be bound by contract if you do not have one of these things: burden of proof: you have to prove that you have that defence available. Minors: if a minor makes a contract then they can enforce that contract if they wish. It is to protect minors, not the other party. A child who is living at home as necessaries, so that is not applicable: e. g. Enter a lease and take an extravagant rent, hold the minor to the contract but will not hold it for the price. If there is a benefit to the minor and it is reasonable then this contract must be upheld: contracts for non-necessaries; not enforceable to minors. Cannot accept a benefit they cannot return even if the contract is not enforceable.
