Chapter 14: Capacity Innate: If the person is an adult. ° Circumstantial: Fraud and duress issues. ° Not have capacity because “literally had someone put a gun to your head.” ° If a minor enters into K, it is voidable at the minor’s discretion. ° Other party does not have voidable option. ° Ways K can be ratified (K formerly with minor can be made valid): ° 1. If person under age of 18 follows agreement and once they turn 18, they resign and re- date the K. ° 2. Acknowledge its existence. ° 3. Make a payment. Exception to Rules about Minors ° If minors are purchasing necessities, may be forced to abide K even if under the age of 18. ° Value of those goods is easy to establish, otherwise it would be an unjust enrichment . ° DOES NOT apply to luxury items. 11/10 Lecture: Chapter 9 & Chapter 14 (continued) ° Chapter 9 Canvas Announcements: USPTO links. ***Watch video*** “Basic Facts About Trademarks” Video ° 1. Trademark definition: any word, slogan, symbol, design or combination of these things, that identifies the source of your goods and services and distinguishes them from the goods and services of another party. But the easiest way to think about it is this: a trademark is a brand for ° goods and services. ° A “trademark” identifies the source of goods, like shoes or laptops. A “service mark” identifies the source of services, like landscaping or accounting. ° In everyday language, people often refer to a service mark as a trademark.
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- Spring '08