Textbook Notes (368,117)
Canada (161,660)
LAW 122 (618)
Stan Benda (71)
Chapter 10

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Law and Business
LAW 122
Stan Benda

Chapter 10Contractual defectsA person cannot enter into a contract unless they have the legal power to give consent ex on pg 226Capacity is the legal power to give consentThere r 7 groups of persons who may have no capacity or only limited capacity to create a contract o Minors o Mentally disabled persons o Intoxicated persons o Corporations o Associations o Indian bandsAboriginal persons o Public authoritiesPersonal incapacity o MinorsAge of majority is the age at which a person is held fully responsible in lawMinors r ppl who have not reached the age of majorityLaw says every1 under the age of majority lacks capacityLaw protects minors from exploitationthe consequences of their own inexperience so its important for businesses that transact with minors to understand how the law operatesA contract is voidable if a minor is entitled to avoid the legal obligations that it created Some contracts with minors r voidable not every contractVoidable contract allows minor to avoid contractual liability Minor who wants to avoid contractual liability should do asap ex on pg 227Once a person reaches the age of majority they must decide within a reasonable time whether they want to avoid a contract that they created as a minor Minor cannot just take benefitcancel the contract minors must give back any benefits that they received under a contract There r some contracts that minors cannot avoid such asContracts for necessary goodsservices such as food clothing education medical treatment legal adviceemployment which r to their benefit Case Brief 101 on pg 227 o Mental incapacity
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