LPP 255 Chapter Notes - Chapter 13: Standard Form Contract, Usury, Unconscionability

• School: Syracuse University
• Department: Law & Public Policy
• Course: LPP 255
• Professor: Unkown

Document Summary

Contractual capacity: minors, the age of the majority (when a person is no longer a minor) is 18 years old, termination of minority. Emancipation- a child"s parent or legal guardian relinquishes the legal right to exercise control of the child. A minor can petition a court to be treated as an adult: a minor can enter into any contract an adult can provided the contract is not prohibited by law for minors. A contract entered into by a minor, is voidable at the option of that minor: minor needs to manifest intention not to be bound by it. Minors right to disaffirm: disaffirmance= legal avoidance or setting aside of a contractual obligation, minor must express intent through words or conduct not to be bound in the contract. Must disaffirm the entire contact, not a portion of it. Can be disaffirmed any time during minority or a reasonable time after majority.