Chapt. 14 Key Words - Chapter 14 Key Terms Age of majority...

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Chapter 14 Key Terms Age of majority – The age at which an individual is considered legally capable of conducting himself or herself responsible. A person of this age is entitled to the full rights of citizenship, including the right to vote. In contract law, the age at which one is no longer an infant and can no longer disaffirm a contract Contractual capacity – The legal ability to enter into contracts; the threshold mental capacity required by law for a party who enters into a contract to be bound by that contract Covenant not to compete – A contractual promise to refrain from competing with another party for a certain period of time and within a certain geographic area. Although covenants not to compete restrain trade, they are commonly found in partnership agreements, business sale agreements, and employment contracts. If they are ancillary to such agreements, covenants not to compete will normally be enforced
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  • Fall '09
  • geographic area, threshold mental capacity, certain geographic area, disproportionate bargaining power, business sale agreements

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