MBAL-105: Legal Aspects in Business – Unit 3
Objectives: explain who is competent to contract; explain who is a minor and describe the position of agreements with minors; identify persons of unsound mind and explain the position of agreements with such persons; and identify person disqualified under other laws and describe their position in relation to contract.
Materials:
The relevant material is available here.
Questions:
- Who is competent to contract? State the position of contracts with a minor.
- What shall be the effect on a contract where a minor, a party to the contract, is guilty of deliberate misrepresentation with regard to his age?
- Examine the legal pposition of (i) a minot as a promise (ii) a minor as an agent.
- Who are treated as persons of unsound mind? State the legal positions of contracts with such persons.
- Enumerate persons forbidden under other laws for the time being in force and state the legal position of the contracts with them.