chapter 8 b-law

Minors and Contracts

A minor may void the contract, but must may the reasonable value if it is a necessary

statute

a written law passed by a legislative body

mental capacity

ability of a person to understand the nature and effect of the acts in which he has engaged and the business that he is transacting

flexible standards

are more general guidelines providing greater range of choice or discretion

Capacity and Legality

K Made for Legal Purpose Must Be Legally Competent To Contract Too Young Too Mentally Disabled Too Drunk

bright-line rule

a clear, easily understood, and easily applied standard in a specific situation. are more rigid

Intoxicated People

contracts made by people who have become so intoxicated that they cannot understand the meaning of their acts are voidable; rarely successful

Legality

must meet the requirement of legality, that is both subject of matter and the performance