Accg614 - week3

3 ie contracng to rob a bank contracts that are

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Unformatted text preview: to make a contract) Minors – Common Law Under the Common Law (replaced in NSW): Minors Can enforce contracts but not all contracts are enforceable against Minors: §༊  Contracts were binding on Minors only if they were for: Ø།  Necessaries (food, shelter or clothing) but NOT luxuries (i.e. Interna=onal trip Bojczuk v Gregorcewics) Ø།  Beneficial contracts of Service (Employment/appren=ceships/training agreement) (Hamilton v Lethbridge – Lawyer in Toowoomba) –  If a minor pays cash for goods or services they are bound (doesn’t ma\er if they are necessaries or not). 31 Capacity (to make a contract) Minors – Common Law Contracts with minors that are not for 1.  Necessaries (essen=als of life – i.e. food shelter and clothing); or 2.  Beneficial contracts of service (appren=ceships/ traineeships) are VOIDABLE (at the op0on of the Minor) 32 Minors (Property and Contracts) Act 1970 (NSW) §༊  In NSW this area is now regulated by statute law: Minors (Property and Contracts) Act 1970 (NSW). §༊  The Act reduced age of majority from 21 to 18 (s8 full contractual capacity at 18) §༊  T...
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