BALW20150 Lecture Notes - Lecture 10: Fiduciary, Protected Group, Unconscionability
15 Apr 2017
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Document Summary
The law presumes that the parties to a contract have the requisite contractual capacity to enter into the contract. Any age below the statutory age of majority (18 years) is called the period of minority. A person who has not reached the age of majority. The law protects people suffering from substantial mental incapacity from enforcement of contracts against them. To be relieved of his or her duties under a contract, the law requires a person to have been legally insane at the time of entering into the contract. A person who has been adjudged insane by a proper court or administrative agency. A contract entered into by such a person is void. Even if you regain capacity, you still have someone who has authority of you. A person who is insane but has not been adjudged insane by a court or administrative agency. A contract entered into by such a person is generally voidable.
