This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: L293 (3/4/2009) Chapter 14 • Capacity to Contract • Definition o The ability to consent The ability to incur legal obligations and acquire legal rights • The Lack of Capacity o Groups lacking capacity: Minors Those suffering a mental disability Those who are intoxicated (sometimes) o Effect -- a person who contracts without the requisite capacity may avoid the contract at his/her option • Minor’s Right to Disaffirm o Right to avoid a contract is disaffirmance Only the minor may avoid the contract o Example of disaffirmance: Stroupes v. The Finish Line, Inc. o If minor wants to affirm the contract, adult party must perform • Details About Disaffirmance o Minors may not avoid contracts if statutory exception exists: Marriage, educational loans, insurance o An exculpatory clause signed by a parent does not necessarily waive the minor’s...
View Full Document
- Winter '09