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Not all person have the capacity to enter into a contract discuss the statement?
Wiki User
∙ 13y ago
In order for a person to enter into a legal, binding contract, they must be of legal age, be of sound mind, and not be under the influence of any substance (drugs, alcohol, etc.), and must not have been coerced, or under undue pressure to do so.
Wiki User
∙ 13y ago
Wiki User
∙ 11y agocorrect
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What does capacity of person signing mean?
The capacity of a person signing refers to their legal authority or ability to sign a document on behalf of themselves or someone else. It ensures that the signature is valid and that the signatory has the authority to act on behalf of the entity they are representing.
What is an example of the persons disqualified by law to enter into a contract?
As for contract law, a person must be able to understand the nature and consequences of the contract when it is formed. Mental capacity refers to one's legal ability to enter into a contract. Your question is assumed to refer to a person who lacks mental capacity. A person who lacks mental capacity cannot understand the obligations under a contract and that makes the contract voidable in most cases.Also, a minor cannot make a valid contract in most cases.
Can a contract be broken if the person who signed it was mentally unstable at the time of signing'?
a contract is void when it is lacking mental capacity
What are the concquences if a person who has no contractual capacity enters into a contract?
The contract can be declared void. The party must either re-affirm the agreement when the do have contractual capacity or it remains void.
Can a mentally retarded adult cosign for another?
No. A diagnosed mentally retarded person lacks the legal capacity to sign a contract.No. A diagnosed mentally retarded person lacks the legal capacity to sign a contract.No. A diagnosed mentally retarded person lacks the legal capacity to sign a contract.No. A diagnosed mentally retarded person lacks the legal capacity to sign a contract.
Can a boyfriend be Power of Attorney?
A person having the capacity to contract is qualified to act as an attorney-in-fact.
What causes misrepresentation?
When a person makes a false statement with the intention of misleading someone into forming a contract
Discuss the law relating to the contract by person of unsound mind?
A contract that is entered into by a person of unsound mind is void. It is completely unenforceable rather than just being voidable; which means cancellable on the option of a party.
What is the legal capacity of a company?
The company as juristic person has rights, duties and responsibilities as an individual person. The juristic person can enter into any contract and be bound to it.
Who is given power of attorney?
Any person having the capacity to contract is qualified to act as an attorney-in-fact.
What is the basic test for determining if a pre-contractual statement is a contractual term or mere representation?
If the term is enforceable under the contract then it is a term. if it was merely something said to induce a person to enter into a contract it is a pre-contractual statement.
When an party competent enter into a contract?
A person's capacity to enter into a contract refers to the legal ability of a person to enter into a contract. It also means that they can mentally understand the terms of the contract. visit our website to know more link in bio.
