Capacity and Consent

Part of a contract that attempts to release you from

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Part of a contract that attempts to release you from liability to injury to another party CONSUMER REVIEW FAIRNESS ACT Bailment Cases Adhesion Contracts Too small to read VOIDABLE versus VOID:
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Voidable An agreement that, because of some defect, may be terminated by one party, but not by both parties CAPACITY Does the contract have the capacity?? MINORS Disaffirmance Minor generally may disaffirm a contract Minor also has the option of filing a suit to rescind the contract Exceptions Timing necessaries MISREPRESENTATION AND FRAUD Remedies Silence: Latent v. Obvious
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MENTALLY IMPAIRED PERSONS Person with mental illness or defect, who is unable to understand the nature and consequences of a transaction. Generally creates only a voidable contract What is the difference between civil law and criminal law as to intoxication? Never a defense in criminal law, but allowed in civil law Mistakes Bilateral Occurs when both parties negotiate based on the same factual error If parties contract is based on an important factual error, the contract is voidable by the injured party Conscious uncertainty No rescission is allowed where one of the parties know she is taking a risk Unilateral Only one party enters a contract under a mistaken assumption.
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