Capacity - Capacity Just what do we mean capacity Ability to understand that a contract is being made and to understand its general meaning 2

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Capacity?
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Just what do we mean – capacity? Ability to understand that a contract is being made and to understand its general meaning. 2
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Capacity Minors Mentally incompetent persons Intoxication
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Minors -- Exceptions Fully Executed Contracts Timing Necessaries Misrepresentation of Age
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Minors - 2. Minors. (A) Who is a Minor? Less than 18 years of age. (B) Minor’s Power to Avoid Contracts. [LO.2] With certain exceptions, contract is VOIDABLE. Minor may affirm or ratify the contract when she turns 18, or reasonable time thereafter. What Constitutes Avoidance? Minor must disaffirm. Time for Avoidance. May only disaffirm while minor. Reasonable time after can ratify. Minor’s Representation of Age. Does not affect power to disaffirm. 5
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Minors Disaffirmance A minor generally may disaffirm a contract; that is, he may notify the other party he refuses to be bound by the agreement. The minor also has the option of filing a suit to
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This note was uploaded on 04/09/2012 for the course BA 3301 taught by Professor Stanb during the Spring '09 term at University of Houston - Downtown.

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Capacity - Capacity Just what do we mean capacity Ability to understand that a contract is being made and to understand its general meaning 2

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