A valid contract requires that all parties be legally able to enter into the agreement. Capacity of parties is one of the requirements for a valid and binding contract. Minors, the mentally insane, and persons who are under the influence are not considered to be of legal capacity to enter into a contract.
Related information about capacity of parties:
- Capacity of Parties: Definition from Answers.com
Capacity of Parties Legal capability of those involved in mutual assent of making a contract, including an insurance contract.
- What is capacity of parties? - InvestorWords.com
Definition of capacity of parties: A valid contract requires that all parties be legally able to enter into the agreement. Capacity of parties is one of the requirements ...
- What is capacity of parties? - BusinessDictionary.com
Definition of capacity of parties: Legal competency of each party to enter in a contract.
- Capacity Of Parties - RealTown
RealTown Words. Capacity Of Parties. Related words: contract, corporate resolution, incompetent, trustee, ultra vires. The legal ability of people or organizations ...
- Chapter VI. Capacity Of Parties
Nov 11, 2012 ... Thus far we have been dealing with the contract itself, and those elements in its formation which are essential to give it even a prima facie ...
- Failure to verify the legal capacity of parties
An estate agent, who failed to verify the legal capacity of the purchaser and arranged for the vendors to enter into a provisional sale and purchase agreement ...
- Capacity of Parties - LexisNexis® Litigation Essentials
Jun 1, 2012 ... This chapter discusses the capacity of parties to enter contracts. Certain classes of people have limited contractual capacity; therefore, ...
- 38 CFR 36.4331 - Capacity of parties to contract. | LII / Legal ...
Jul 1, 2011 ... Capacity of parties to contract. Nothing in §§ 36.4800 through 36.4880 shall be construed to relieve any lender of responsibility otherwise ...