BLE-214 Chapter Notes - Chapter 16: Natural Person, Life Insurance, Unconscionability
Document Summary
In most states, courts or state legislatures have determined that the minor should not have the right to disaffirm contracts for life insurance, health insurance, psychological counseling, etc. I(cid:374) (cid:373)ost states, (cid:373)i(cid:374)ors, (cid:374)ot their pare(cid:374)ts, are lia(cid:271)le for a (cid:373)i(cid:374)or"s personal torts. Mentally incapacitated persons: persons suffering from a mental illness or deficiency may have full, limited, or no legal capacity to enter into a binding contract, depending on the nature and extent of their deficiency. Intoxicated persons include those under the influence of alcohol or drugs. If the i(cid:374)to(cid:454)i(cid:272)atio(cid:374) (cid:373)erel(cid:455) (cid:272)auses so(cid:373)eo(cid:374)e to e(cid:454)er(cid:272)ise poor judg(cid:373)e(cid:374)t, the perso(cid:374)"s capacity is not affected unless the other party unfairly capitalizes on this impaired judgment. Generally, contracts made by intoxicated persons are voidable. Making them void clearly indicated that such agreement are not socially acceptable: #2. Licensing statutes: all 50 states have statutes requiring that people in certain professions obtain a license before practicing their craft.
