Quiz 5 Study Guid (Capacity and Legality) - 4-1-08

Quiz 5 Study Guid - Capacity and Legality Chapter(Pages 146 to 161 Study Guide for Quiz#5 on Minor Infancy Doctrine Disaffirmance Competent party's

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Capacity and Legality Chapter (Pages 146 to 161) Study Guide for Quiz #5 on 4/1/08 Minor A person who has not reached the age of majority; in the common law, for class purposes, both males and females’ age of majority is 18. Infancy Doctrine A doctrine that allows minors to disaffirm (cancel) most contracts they have entered into with adults Disaffirmance The act of a minor to rescind a contract under the infancy doctrine. Disaffirmance may be done orally, in writing, or by the minor’s conduct. Competent party’s duty of restitution A minor must be restored to the same position he or she was in before the minor entered into the contract. That is, if the minor has transferred consideration to the competent party before disaffirming, it must be returned to the minor upon disaffirmance. Minor’s duty of restoration As a general rule, a minor is obligated only to return the goods or property he or she has received from the adult in the condition it is in at the time of disaffirmance
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This test prep was uploaded on 03/30/2008 for the course BLAW 060 taught by Professor Walker during the Spring '08 term at Drake University .

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Quiz 5 Study Guid - Capacity and Legality Chapter(Pages 146 to 161 Study Guide for Quiz#5 on Minor Infancy Doctrine Disaffirmance Competent party's

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