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7 Cards in this Set

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§ 9 Parties Required

There must be at least two parties to a contract, a promisor and a promisee, but there may be a greater number.



§ 10 Multiple Promisors and Promisees of the Same performance




(don't need to know, typed by mistake)

(1) Where there are more promisors than one in a contract, some or all of them may prmoise the same performance, whether or not there are also promises of separate performances.




(2) Where there are more promisees than one in a contract, a promise may be made to some or all of them as a unit, whether or not the same or another performance is separately promised to one or more of them

§ 12 Capacity to Contract

(1) No one can be bound by contract who has no legal capacity to incur at least voidable contractual duties. Capacity to contract may be partial and its existence in respect of a particular transaction may depend upon the nature of the transaction or upon other circumstances.




(2) A natural person who manifests assent to a transaction has full legal capacity to incur contractual duties thereby unless he is


(a) Under guardianship, or


(b) an infant, or


(c) mentally ill or defective, or


(d) intoxicated.



§ 13 Persons Affected by Guardianship

A person has no capacity to incur contractual duties if his property is under guardianship by reason of adjudication of mental illness or defect



§ 14 Infants

Unless a statute provides otherwise, a natural person has the capacity to incur only voidable contractual duties until the beginning of the day before the person's eighteenth birthday



§ 15 Mental Illness or Defect

(1) A Person incurs only voidable contractual duties by entering into a transaction if by reason of mental illness or defect


(a) he is unable to understand in a reasonable manner the nature and consequences of the transaction, or


(b) he is unable to act in a reasonable manner in relation to the transaction and the other party has reason to know of his condition




(2) Where the contract is made on fair terms and the other party is without knowledge of the mental illness or defect, the power of avoidance under subsection (1) terminates to the extent that the contract has been so performed in part of in whole or the circumstance have so changed that avoidance would be unjust. In such a case a court my grant relief as justice requires.

§ 16 Intoxicated Persons

A person incurs only voidable contractual duties by entering into a transaction if the other party has reason to know that by reason of intoxication


(a) he is unable to understand in a reasonable manner the nature and consequences of the transaction, or


(b) he is unable to act in a reasonable manner in relation to the transaction.