RSM225H1 Lecture : chapter 7
Document Summary
The contractual liability of minors upon attaining the majority. A minor"s liability to pay for necessary and beneficial contracts of service continues after she exceeds majority. She may become liable for obligations that could not be enforced against her while she was a minor. Voidable contracts: a contract that maybe vendor non-binding at that option of one of the parties. The non-necessary contracts are voidable in two ways: In the first type, the minor acquires the interest of a permanent, continuous nature. This class of contracts involve ongoing obligations paid in installment such as self and services fitness club membership etc. This type includes a minor"s promise to pay for non-necessary goods or for services performed and wants at her request. A promise to pay for necessary goods not delivered at the time she becomes of age also requires ratification. The role of legality in the formation of a contract. The object of purpose of the contract must be equal.
