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12 Cards in this Set
- Front
- Back
minor
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person who is under the age of majority (usually 18); contracts made by minors are voidable at guardian's opinion almost without exception (executory or executed)
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liability on contracts
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minor's contracts are voidable at minor's opinion
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disaffirmance
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avoidance of the contract; may be done during minority and for a reasonable time after reaching majority (cannot disaffirm sale of land until after reaching majority)
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courts' ruling on duty upon disaffirmance
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most hold that any property received by other party must be returned, in any condition; some require payment of reasonable amount for use or depreciation of property; few require minors to make restitution (put other party in same position as before contract)
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ratification
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affirmation of the entire contract; may be done upon reaching age of majority (contract becomes binding from beginning, as if it was valid from its inception); can be express, implied, or through failure to make a timely disaffirmance
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liability for necessities
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a minor is liable for the reasonable value of necessary times (those that reasonably supply a person's needs), but has the option of disaffirming contracts if items have not been used/consumed (executory contracts)
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liability for misrepresentation of age
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most courts say minors can still disaffirm the contract even if they fraudulently misrepresent their age; some courts prohibit disaffirmance if the adult reasonably relied on disaffirmance; a few others will require restitution or allow tort damages to be recovered
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liability for tort connected with contract
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if a tort and a contract are so intertwined that to enforce the tort the court must enforce the contract, the minor is not liable in tort
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incompetent persons
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persons under guardianship, mental illness or defect, and intoxicated persons
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person under guardianship
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contracts made by a person placed under guardianship by court order are void
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mental illness or defect
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if a personal lacks the necessary level of mental capacity (are mentally incompetent) then the agreement is voidable
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intoxicated persons
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if person cannot understand the nature and consequence of her actions or is unable to act in a reasonable manner, the contract is voidable (may be ratified if intoxicated person regains capacity)
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