BSL_14- Contractual Capacity

BSL_14- Contractual Capacity - BSL_14 16:26...

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BSL_14 16:26 Contractual Capacity If you enter into an agreement without contractual capacity, the agreement is  voidable.  Right to Disaffirm the contract- right to cancel the contract Right to Ratify- once ratified, a previously voidable contract becomes enforceable Minors Contracts A minor is someone under the age of 18 o Minor has the Right to Disaffirm the contract Can exercise that right throughout their minority and for reasonable time after  turning 18 Can be done explicitly OR implicitly (through actions) o Ratification Only after the age of 18 Can be done explicitly (say you intend to be bound), implicitly (act like you  intend to be bound), or by waiting too long o Duties Upon Disaffirmance Adult’s Duty- adult is required to put the minor in the position they were prior  to entering the contract (must return to the minor everything that the minor 
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BSL_14- Contractual Capacity - BSL_14 16:26...

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