BLAW 3201 Chapter 14: Chapter 14 Outline
Document Summary
A binding promise or agreement requires that the parties to the agreement have contractual capacity: everyone is regarded as having such capacity unless the law for reasons of public policy holds that the individual lacks such capacity. Persons who are legally limited in their capacity to contract: minors, incompetent persons, intoxicated persons. Minors: persons who are under the legal age of majority (usually 18 years old) A minor"s contracts are voidable at the minor"s (cid:523)or their guardian"s(cid:524) option. A minor is liable for the reasonable value of necessary items (those that suitably and reasonably supply a person"s needs(cid:524: such as: food, shelter, medicine, and clothing. The minor is liable for the reasonable value of the items furnished (not the agreed price: recovery is based on quasi contract. Many states limit necessaries to items that are not provided to the minor (by guardian)
