LAW 122 Chapter Notes - Chapter 10: Meeting Of The Minds, Ultra Vires, Oral Contract
23 Apr 2013
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Document Summary
A person cannot enter a contract unless they have the legal power to give consent. To protect specific groups of people, the law has drawn a distinction between those who have the capacity to contract and those who do not. Capacity is the legal power to give consent. The law distinguish between minors and those who have reached the age of majority. The age of majority is the age at which a person id held fully accountable in law. Those who have not reached the age of majority are minors. Some contracts are voidable at the minor"s option. A contract is voidable if a minor is entitled to avoid the legal obligations that the contract would have otherwise created. Some contracts with minors are voidable; the minor may elect to avoid contractual liability. If so, they are relieved of all future liabilities under the contract. A minor who wants to avoid contractual liability should do so as soon as possible.
