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Contracts_2 - Contractual Capacity Minors 1 Disaffirmance...

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Contractual Capacity Minors 1. Disaffirmance – legal avoidance of a contractual obligation K=Contract -Can take place at any time during minority and within a reasonable time after the minor has reached age of majority -If minor disaffirms K the entire K must be disaffirmed When disaffirming executed Ks the minor has a duty to return received goods if they are still in the minor’s control or pay (in some states) their reasonable value Minor who has committed an act of fraud will be denied the right to disaffirm by some courts A minor may disaffirm a contract for necessaries but remains liable for the reasonable value of the goods 2. Ratification – acceptance or affirmation of a legal obligation by a minor on or after the day he reaches majority (18+) (may be express or implied) Express – minor, through writing or an oral agreement after age of majority, explicitly assumes the obligations imposed by the contract Implied – exists when the conduct of the minor is inconsistent with disaffirmance or when the minor fails to disaffirm an executed contract within a reasonable time after reaching the age of majority 3. Parents’ liability – generally, except for contracts for necessaries, parents are not liable for contracts made by minor children acting on their own, nor are parents liable for minor torts, except in certain circumstances. 4. Emancipation – occurs when a child’s parent or legal guardian relinquishes the legal right to exercise control over the child. Normally, a minor who leaves home to support him or herself is considered emancipated. In some jurisdictions, minors themselves are permitted to petition for emancipation for limited purposes. Intoxicated Persons A K entered into by an intoxicated person is voidable at the option of the intoxicated person if the person was sufficiently intoxicated to lack mental capacity even if the intoxication was voluntary
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A contract with an intoxicated person is enforceable if, despite being intoxicated, the person understood the legal consequences of entering into the contract.
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