Management and Organizational Studies 2275A/B Study Guide - Midterm Guide: Non Est Factum, Undue Influence, Promissory Note

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Some people are more vulnerable than others and thus require special protection from the law. Several categories have been identified as needing protection, and are protected by having their freedom to enter into contracts limited or eliminated completely. The age of majority varies with the provinces. The general principle is that persons under the age of majority, called infants or minors, are not bound by their agreements, but the adults with whom they contract are bound. Most problems relating to minors and contracts they have entered into arise in situations involving young people who are approaching the age of majority. The only question is whether the other person was under the statutory age of majority at the time the contract was created. As a general rule, whenever a minor enters into a contract with an adult, the adult is boung by the contract, but the minor can choose not to be bound by it.