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3 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Infants or Minors |
- persons under age of 18 - infants may make contracts but are not bound by them (A)BINDING CONTRACTS: °contracts of necessity.....NASH V INMAN(1908) ° beneficial contracts....CLEMENTS V N.W RY(1894), DE FRANCISCO V BARNUM (1889) (B)VOID CONTRACTS: °agreement for repayment of money lent or to be lent ° any contract for goods supplied, other than nececessaries °accounts stated- an acknowledgement of debt (C)VOIDABLE CONTRACTS: ° contracts concerning land °shares in companies °patnership °marriage settlements (D) LIABILITY IN TORT: -minors are liable in tort the same way as adults |
Right to repediate- minor can choose to get out of a contract immediately he/she turns 18. Only given to the minor and not the other party |
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Persons of Unsound Mind and Drunkards and Aliens or Non citizens |
- a mental patient and drunkard are liable for necessaries - an alien can Sue or be sued - an ebemy alien cannot Sue but if sued can defend action |
Repudiate within a reasonable time |
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Corporations |
- statutory corporations are created by statutes - can only enter contracts within scope of the purpose it was formed( doctrine of ULTRA VIRES) .....ASHBURY RY. CARRIAGE & IRON CO. V ROCHE(1875) |
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