BLAW 201 Chapter Notes - Chapter 14: Punitive Damages, Loan Guarantee, Mental Disorder
10 Mar 2016
School
Department
Course
Professor
Document Summary
Who is a minor any person under 18 years of age. Minor"s power to avoid contracts a contract made by a minor is voidable at the elecion of the minor. What consitutes avoidance: a minor may avoid or disairm a contract by any expression of an intenion to repudiate the contract. Ime for avoidance: a minor can only disairm a contract during minority and for a reasonable ime ater ataining majority, ater a lapse of reasonable ime the contract cannot by avoided. What consitutes raiicaion: raiicaion consists of any words or conduct manifesing an intent to be bound to the terms of a contract form of raiicaion, in some states, a writen raiicaion or declaraion is required. Person with mental disorder may lack capacity to make a contract efect of incompetency an incompetent person may avoid a contract in the same manner as a minor.
