What is contractual capacity? What is the difference between status incapacity and factual incapacity?
What is contractual capacity? What is the difference between status incapacity and factual incapacity?
Homework Answers
Contractual capacity is an individual's faculty to sign binding contracts with any other party or parties, in one case for himself or in other cases on behalf of a third party. It is legal competence.
Status Incapacity – Minors do not have the legal capacity to contract.
Factual incapacity – Mental incompetence to go into a contract due to drugs, alcohol, illness or age
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What is contractual capacity? What is the difference between
status incapacity and factual incapacity?
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