Contracts_2 - Contractual Capacity Minors 1. Disaffirmance...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
A contract with an intoxicated person is enforceable if, despite being intoxicated, the person understood the legal consequences of entering into the contract. Mentally Incompetent Persons
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/30/2008 for the course B A 241 taught by Professor Hippo,charlesway during the Fall '08 term at Pennsylvania State University, University Park.

Page1 / 5

Contracts_2 - Contractual Capacity Minors 1. Disaffirmance...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online