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Commercial Law
Chapter 6 Vocab
8
Law
Graduate
10/07/2012

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Cards

Term
Capacity
Definition
legally competent to do something(for example enter into a K)
Term
Disaffirm
Definition
refuse to perform
Term
Voidable
Definition
one party can disaffirm
Term
Minor
Definition
has not reached the age of 18
Term
Necessities (Necessaries)
Definition
things reasonably necessary to maintain a person's life - food, clothing, shelter, medical attention.
Term
Minor's Entertainment and Sports K Act
Definition
a law which allows a minor to enter into a certain K if approved by the court.
Term
Mental Incompetence to K
Definition
typically, incompetent person can disaffirm - voidable.
Term
Ratification
Definition
failed to disaffirm within a reasonable amount of time. Agreeing to a K which is not orignally properly made.
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