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Podcast: Law School
Episode: Contract Law Chapter 3: Capacity and Legality (Part 1)
Description: Chapter 3: Capacity and Legality
Capacity and legality are fundamental principles ensuring that parties entering into contracts are capable of understanding and adhering to the agreements they make. This chapter delves into the specifics of who has the capacity to contract and what makes a contract legal or illegal.
3.1 Capacity to Contract
Capacity refers to a party's legal ability to enter into a binding contract. Certain groups are recognized as having limited capacity, including:
Minors: Typically defined as individuals under 18, minors can void contracts at their discretion. They have the right to...