Chapter10slides

Chapter10slides - Capacity and

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Unformatted text preview: Capacity and Legality--------------------------------------------------- Exam 1: Avg 79 Curve: Add two points (minimum) to exam Weakness in essay: No have-to Did not discuss legal rules/framework Pronoun reference (clarify paragraphs/people) Use common sense/laws real world commonalities Is good to Predict what court is going to do Fairness dos not equal constitutional Need protection from Overreaching adults Their own youthful folly  Law will presume the above and provide broad protections  Disaffirmance provides this Lack Capacity  Minor, intoxicated, or insane DRUNK, NUTS, KIDS Minor can avoid the contract Contract is voidable by the minor Only the minor can avoid Minor is returned to status quo  Adults deal with minors at their peril  Dont contract with minors unless adult cosigner Restitution: Duty of adult to return minor to status quo Return of Consideration Or a reasonable substitute  Restoration: Duty of minor to return what is left of consideration to the adult; Trend is to require more than mere restoration Historically: Restitution-minor is entitled to full refundstill the rule in most states.refundstill the rule in most states....
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This note was uploaded on 04/22/2009 for the course BCOR 3000 taught by Professor Morley during the Fall '07 term at Colorado.

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Chapter10slides - Capacity and

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