Textbook Notes (363,472)
Canada (158,372)
BUS 393 (52)
Chapter 7

Chapter 7 – Formation of Contracts (Continued)

3 Pages
Unlock Document

Simon Fraser University
Business Administration
BUS 393
Richard Yates

Chapter 7Formation of Contracts ContinuedCapacityMinorsInfantsMinors under 19 not bound by their contractsNecessaries and Beneficial Contracts of ServiceMinors are bound by contracts for necessaries eg food clothing lodging transportationMinors are bound by contracts for service that substantially benefit themException In BC ALL contracts are unenforceable against minors unless enforceable by legislationOn Becoming an AdultIf minor ratifies contract at age of authority she is boundMinor must repudiate within a reasonable timeExecutory contractparties entered into contract but minor has not benefitted or paidnot boundPartially executed contractminor will have to returnpay for goods and then will get a full refundExecuted contractif minor has benefitted cannot escape contractnot bound if received no benefit at allParents LiabilityParents are not responsible for minors contractsResponsible if they guarantee an
More Less

Related notes for BUS 393

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.