Impact of Contractual Capacity of Minor
A contract involves s a promise between two persons for the exchange of either good or services. A contract signifies the free consent of the parties to the contract to be bound by law. For a contract to be valid, it must have these basic elements mutual assent, consideration, capacity, and legality. Mutual assent is characterized by offer and acceptance through mutual accent consideration, on the other hand denotes any form of compensation with something of value for the goods or services traded. A contract between persons, either natural persons or legal persons, who have no capacity to contract can either be voidable or void depending on the case. Legality gives the condition that should be satisfied for a contract to be excised by the law. Illegal contracts are for example those involving illegal activities. For example one can t bring a plea of damages to a court of law for breach of a contract entered into to kill another person.The possible remedies for breach of contract are general damages, consequential damages, reliance damages, and specific performance. This paper will examine the capacity to contract as pertains to contracts entered by minors minor s. capacity, contract, capacity, legality, consideration, mutual accent void voidable.