business Law - CONTRACTUAL CAPACITY GROUP MEMBERS Arslan...

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CONTRACTUAL CAPACITY
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GROUP MEMBERS Arslan Gul Usman Ahmed Mughal Shahbaz Mehrwani Syed Mohammed Gulraiz
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Meaning of Contractual Capacity: The 'capacity to contract' means the competence (i.e. capability) of the parties to enter into a valid contract. The term' capacity to contract' is defined in Section 11 of the Contract Act, which reads as under : "Every person is competent to contract who is of the age of the majority according to the law to which he is subject and who is of sound mind, and is not disqualified from contracting by any law to which he is subject".
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PERSON’S LACKING CONTRACTUAL CAPACITY Minor Persons of unsound mind Disqualified by law
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Minor The term minor is used to refer to a person under a certain age, the age of majority, which legally demarcates childhood from adulthood; the age depends upon jurisdiction and application, but is typically 18. Minors are not in a position to take rational judgments. They can be easily exploited by experienced persons They can join a contract in partnership with someone, and they will be only entitled for profit not for the loss.
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Minor: Miss Representation of Age By misrepresenting his age, minor induced the other party to contract with him, he cannot be
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business Law - CONTRACTUAL CAPACITY GROUP MEMBERS Arslan...

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