SITUATIONS WHEN A MINOR IS RESPONSIBLE FOR CONTRACT:

1. If a minor is emancipated that is to say, married/no longer under the parental guidance and support.  Then when this type of minor enters into a contract, this minor would be responsible for this contract.

SITUATIONS WHEN A MINOR IS RESPONSIBLE FOR CONTRACT:

2. If a minor enters into a contract to purchase necessaries (what is necessary will be dependent upon the economic and social status of the minor) then the minor will be responsible for this contract unless the contract is completely executory in nature.

 SITUATIONS WHEN A MINOR IS RESPONSIBLE FOR CONTRACT:

3.There are certain types of contracts by their very nature and subject matter, wherein the law will require the minor to be responsible for and some examples are when a minor enters in a business and/or marriage contract.

 SITUATIONS WHEN A MINOR IS RESPONSIBLE FOR CONTRACT:

4. Assuming the general principle is applicable, giving a minor a voidable status in a contract then if a minor sells goods to a second party then this second party will get voidable title (this is valid title unless and until it is voided by the injured party) to goods and if this second party sells these goods to an innocent third party, purchaser for value then the minor will not be able to recover these goods from this latter party because under the UCC, a party who has voidable title to goods has the power to transfer good titles to these goods to an innocent 3rd party purchaser for value.

 SITUATIONS WHEN A MINOR IS RESPONSIBLE FOR CONTRACT:

5.A minor is responsible for a contract when a minor affirms a contract- A minor affirms a contract by entering into a contract as a minor and then later reaching majority age plus shows an expressed or implied intention to be bound by the contract.

SITUATIONS WHEN A MINOR IS RESPONSIBLE FOR CONTRACT:

6. If a minor enters into a contract to take advantage of his status as a minor to the detrimant of the other contracting party, then the minor will be responsible for the contract.

A person who enters into a contract who lacks mental competance, but who never has been declared legally insane will mean that this contract is voidable from the vantae point of this person unless the contract involves necessaries.

A person who enters into a contract who is intoxicated through drugs/alcohol has a voidable status in this contract for 2 different reasons:

1. Intoxicated person does not have competancy to enter into contract.
2. Under the objective intent theory, there is no mutual assent.
   

1. If a lender charges an excessive rate of interest in a contractual loan, this violates the usury laws and if a lender does this in a situation wherein the borrower does not pay back any principle/interest to the lender, then the legal consequences of this will be dependent upon the law in the state as some states will allow the lender to recover the principle PLUS the legal rate of interest in the state, while other states will allow the lender to recover only the principle but no interest.  And finally, other states will not allow the lender to recover ANY principle/interest.

2. Whether or not a gambling contract is a legal subject matter contract will be dependent upon the law in the state.

3. There are certain types of businesses/professions that are required to have a liscense and if such business/profession didn't have such liscense and had extended their property/services to another party who didn't compensate for this, the law will not allow this business or profession the right to recover this compensation.

4. If the terms of a contract as well as the facts involved in and surrounding this contract are shocking and to the consciense of the court, then the contract will be an illegal subject matter contract.  Which is void and legally unenforceable.

5. Whether or not a contract that is entered into and/or is to take place on a Sunday is a legal subject matter contract, will be dependent upon the law in the state.

6. Any contract, the subject matter of which interferes with and obstructs the legal system is an obstruction of justice contract, which is an illegal subject matter contract that is void and legally unenforceable.

7. Any contract, the legal subject matter of which interferes with public service is an illegal subject matter contract, which is void and legally unenforceable.

8. Any contract, the subject matter of which defrauds a creditor is an illegal subject matter contract that is void and legally unenforceable.

9. Sometimes there is present in a contract an exculpatory clause, and if so, genterally speaking, this clause is illegal and will have no legal effect and it entails an attempt by one of the contracting parties to avoid liabililty due to an event or circumstance that was within the control and fault of this contracting party, which resulted in harming the other contracting party.

10. Restraint of Trade Contract- A contract that limits a persons right to fully engage in business activity with others is an illegal subject matter contract, which is void and legally unenforceable.

11. A contract that unreasonably restricts a former employee from competing against a former employer in an employment area as to time/place/type of work, is an illegal subject matter that is void and legally unenforceable.

6 TYPES OF CONTRACTS THAT MUST BE IN WRITING UNDER THE STATUTE OF FRAUDS:

(statue of frauds does not apply to executed contracts)

1. Any contract that definitely will take more than a year to carry out, must be in writing under the statute of frauds.

2. Any contract for the sale of real property must be in writing under the statute of frauds. (some examples of real property are land and things permanently attached to land such as buildings, trees, & houses)

3. Any contract for the sale of personal property wherein the goods are priced $500 or more must be in writing under the statute of frauds/UCC. (personal property is all property that is not considered real property)

4. If an executor/administrator promises a creditor of the deceased to pay the debt of the deceased from funds out of the pocket of this executor/administrator, then the contract that arises therefrom must be in writing under the statute of frauds.

5. A gaurantee of payment contract must be in writing under the statute of frauds.

6. Contract in consideration of marriage- This is a contract that is entered into between two people who are going to get married.  It is entered into in light of and in consideration of the upcoming marriage.  This contract, which involves obligations not ordinarily found in the marriage itself and usually involves property rights must be entered into before the marriage and it must be in writing under the statute of frauds.