Contractual_Capacity (1)

Irman executedkwithinareasonabletimeafterreachingthe

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Unformatted text preview: mplied Ratification When the conduct of the minor is inconsistent with disaffirmance or when the minor fails to disaffirm an executed K within a reasonable time after reaching the age of majority emancipation emancipation Occurs when a child’s parent or legal guardian relinquishes the legal right to exercise control over the child Normally, a child who leaves home to support himself or herself is considered emancipated Once emancipated, a minor becomes liable for necessaries Food Shelter Clothing Intoxicated Persons Intoxicated Persons A contract entered into by an intoxicated person is voidable at the option of the intoxicated person if the person was sufficiently intoxicated to lack mental capacity, even if the intoxication was voluntary A contract with an intoxicated person is enforceable if, despite being intoxicated, the person understood the legal consequences of entering into the contract Mentally Incompetent Mentally Incompetent A contract made by a person adjudged by a court to be mentally incompetent is void A contract by a mentally incompetent person not adjudged by a court to be mentally incompetent is voidable at the option of the mentally incompetent person...
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This note was uploaded on 05/07/2013 for the course LAW 1001 taught by Professor Skou during the Spring '12 term at CUNY Baruch.

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