BUSN 323 (Lambert F24) Capacity, Legality, and Assent PDF

Ch. 11 - Capacity and Legality Roadmap: - Recognize when a minor would have limited capacity to contract - Explain ratification - List reasons for unenforceability - When can unfairness affect enforceability - What happens when you enter into a contract for an illegal purpose - De...

Ch. 11 - Capacity and Legality Roadmap: - Recognize when a minor would have limited capacity to contract - Explain ratification - List reasons for unenforceability - When can unfairness affect enforceability - What happens when you enter into a contract for an illegal purpose - Describe severability Ch. 11 - Capacity and Legality Capacity: - Minors - Disaffirmance and Exceptions - Contracts for Necessities - Ratification - Parents’ liability for a minor - Mentally Incapacitated - Intoxication Ch. 11 - Capacity and Legality Legality and Unenforceability: - Contracts that violate state or federal statutes - Agreement to commit a crime or tort - Licensing Statutes - Usury - Gambling - Blue Laws / Sabbath Law - Violate Public Policy - Restraint of Trade Ch. 11 - Capacity and Legality Legality and Unenforceability: - Unfairness - Unconscionability - Procedural and Substantive - Contracts of Adhesion - Effects of Illegal Contracts - Void ab initio - In pari delicto Ch. 12 - Reality of Assent Roadmap: - Understand importance of Assent - Understand the elements of Mistake - Understand the elements of Misrepresentation - Understand the elements of Undue Influence - Understand the elements of Duress Ch. 12 - Reality of Assent Assent: - Without it, contracts are Voidable and can be Rescinded Ch. 12 - Reality of Assent Mistake: - Mistake, generally - Unilateral Mistake - Mutual Mistake Ch. 12 - Reality of Assent Misrepresentation: - Misrepresentation, generally - Innocent Misrepresentation - Scienter - Negligent Misrepresentation - Fraudulent Misrepresentation - Intentional Misrepresentation - Concealment - Non Disclosure - Intent to Deceive - Justifiable Reliance on False Assertion Ch. 12 - Reality of Assent Undue Influence: - Undue Influence, generally Ch. 12 - Reality of Assent Duress: - Duress, generally