Management and Organizational Studies 2275A/B Chapter Notes - Chapter 9: Microsoft Onenote, Ultra Vires, Price Fixing

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: James Hildebrand

Document Summary

Infant: a person who has not yet reached the age of majority. Not permitted to enter into contracts that are binding. If a contract made by a minor has been fully performed than they can be bound to the agreement unless they can prove that they were taken advantage of or can return all goods. For non-necessary goods a minor or infant may repudiate (reject) the contract at anytime. Will be entitled to a refund once made. Any damages to the goods that"s not a deliberate act of the minor isn"t recoverable by the merchant (including wear and tear) Misrepresentation of age: if a minor has falsely represented their age for non-necessities the goods are entitled to be returned to the merchant. Repudiation: the refusal to perform an agreement or promise. The contract must be repudiated within a reasonable time after the age of majority for any long-standing contracts or else it becomes binding for the full term.