LAW 122 Chapter Notes - Chapter 10: Ultra Vires, Perjury, Non Est Factum
13 Sep 2013
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Six different contractual defects and their legal consequences. Incapacity, absence of writing, mistake, frustration, illegality, and unfairness during bargaining. Void vs voidable (avoid contractual liability) does the party have a choice. On the exam it will be either too soon too late to avoid contract. Capacity: is the legal power to give consent. Sometimes the question of capacity depends on a person"s ability to understand the nature and consequences of their acts intoxicated persons: minors, mentally disable persons. Age of majority: is the age at which a person is held fully accountable in law. Minor: people who have not reached the age of majority. Law says that everyone under that age of majority lacks capacity. Ontario, alberta, saskatchewan age of majority is 18 years. Some contracts are voidable at the minors option. Voidable: a contract is voidable if a minor is entitled to avoid the legal obligations that it created.
