LAW 1101 Lecture Notes - Lecture 12: Executory Contract, Loan Guarantee
Document Summary
Capacity: a contract made by a minor is voidable, the minor may disaffirm a contract he has made. Special case for student loans so students cannot disaffirm student students because the age to disaffirm for student loans is 16 and not 18 years of age. Alex: part 1: alex sold land to bertha for 100,000 dollars who sold it to marvin. Because it is land, it is governed by the common law: alex can disaffirm the contract because the contract is voidable. Bertha had voidable ownership to the land and when she sold the land to. When alex disaffirmed the contract, he disaffirmed ownership of bertha and marvin both. Alex gets the land back but bertha still has to refund. Bertha loses out in the end: as long as alex is still under 18, the contract is voidable no matter how many times the ownership is transferred.
