ACTG 2P40 Lecture Notes - Lecture 4: Insurable Interest, Torte
7 Nov 2015
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Course outline has an outline of torte analysis. Capacity: age of majority, competent, not bankrupt. Illegality with respect to parties: capacity: burden of proof, minors anyone under the age of 18. Enforceable by the minor but unenforceable against the minors i) ii) iii) Contacts for necessaries if minors have contracts they will be enforceable. Quantum meriet the bare amount, the amount it merits. Ratify agreeing to be bound to it once to turn 18. Loans for necessities and non-necessities work the same way. Even if you decide a contract is binding if it includes owner"s terms in it then it is voidable. Severance - the only you are not going to see severance is with remedial legislation you cannot contract out of certain statues. Remedial legislation - act to protect the public set by government: mental incompetence you have to understand what you are entering into when entering the contract.
