Textbook Notes (362,772)
Canada (158,052)
MGSC30H3 (57)
H Laurence (33)
Chapter 9

MGTC31 - Chapter 9

3 Pages
Unlock Document

University of Toronto Scarborough
Management (MGS)
H Laurence

Chapter 9 Legal Capacity to Contract and Requirement of LegalityTHE MINOR OR INFANTNot everyone is permitted to enter into contracts that would bind them at lawInfants a minor a person who has not reached the age of majority Enforceability and the Right of RepudiationIf the contract made by the minor has been fully performed then the minor may be bound by the agreement unless he or she can show that they had been taken advantage of the merchant Any business firm or merchant entering into a contract with a minor assumesthe risk that the minor might repudiate the agreementIf the contract has not been fully performed the agreement may be voidable at the minors optionThe adult with full capacity to contract is bound in every case by the contract negotiated with an infant Criteria for NecessaryContracts of employment or apprenticeships are considered to be beneficial to minors and are enforceable against themSome educational ventures that involve minors may not be considered by the courts as being beneficial many are held enforceable even when educational aspect is unusualEffect of RepudiationMinor or infant may repudiate the contract at any time for nonnecessary goods or services the minor is entitl
More Less

Related notes for MGSC30H3

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.