MGSC30H3 Lecture Notes - Quantum Meruit, Bona Fide Purchaser, Cross Purposes
18 Apr 2014
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Chapter 10 contractual defects: a person cannot enter into a contract unless they have legal power to give consent. Although a 10 year old may be able to read, understand, and sign a contract they may not be legally bound to it: capacity is the legal power to give consent. There are several group of persons who may have no capacity or only limited capacity to create a contract. Personal incapacity: minors- everyone under the age of majority lacks capacity. The age of majority is the age at which a person is held fully accountable in law. A contract is voidable if a minor is entitled to avoid the legal obligations that the contract would have otherwise created. Note that only some contracts with minors are voidable. If the contract is voidable, the minor may choose to avoid contractual liability and if so they are relieved of all future liabilities under the contract.
