LAW 122 Chapter Notes - Chapter 10: Force Majeure, Perjury, Overdraft
8 Dec 2016
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A person cannot enter into a contract unless they have the legal power to give consent: although 10 year olds are able to read and write, they cannot be legally bound to a contract. To protect specific groups of people, the law has drawn a distinction between those who have the capacity - the legal power to give consent - to contract and those who don"t. Intoxication: an otherwise capable person may enter into a contract while intoxicated. This is voidable if two conditions are met: The person must have been so drunk that they could not know or appreciate what they were doing. They other party must have been alerted to that fact. The intoxicated party promptly voids the contract: business corporations, corporations are treated as legal persons, the law distinguishes between. Chartered corporations - treated the same as individuals who have reached the age of majority.
