SCMA 323 Chapter Notes - Chapter 12: Unconscionability, Non-Compete Clause, Usury
27 Feb 2017
School
Department
Course
Professor
Document Summary
Introduction: law presumes that parties have the requisite contractual capacity to enter into a contract, persons who do not have this capacity are: Minors: a person who has not reached the age of majority. Does not have the maturity, experience, or sophistication needed to enter into contracts: many states have enacted statutes that specify the age of majority. Generally 18 years of age for both males and females. Key issues relating to minors and contracts. Doctrine that allows minors to disaffirm (cancel) most contracts they have entered into with adults: disaffirmance. The act of a minor to rescind a contract under the infancy doctrine. Can be done orally, i(cid:374) (cid:449)riti(cid:374)g, or (cid:271)y the (cid:373)i(cid:374)or"s (cid:272)o(cid:374)du(cid:272)t: duties of restoration and restitution. A minor is obligated only to return the goods or property he or she has received from the adult in the condition it is in at the time of disaffirmance.
