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Commercial Law; An Elementary Text-Book for Commercial Classes

Commercial Law; An Elementary Text-Book for Commercial Classes


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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: CHAPTER II CAPACITY OF PARTIES TO CONTRACT 38. General Rule.?Every natural person is competent to enter into a contract who is of full age and of sound mind, and is not specially disqualified by law. No distinction is now drawn between subjects and aliens as regards capacity to contract, but alien enemies are subject to certain disabilities during war. The capacity of an artificial person, such as a corporation, to contract depends mainly upon the purpose of its existence, except where it is expressly defined in the instrument or statute creating it. Infants 39.?A person under the age of twenty-one is an infant. The position of infants in regard to contracts may be summed up in the following propositions: ? (a) Contracts made with infants relating to (1) loans of money, (2) sales of goods other than necessaries, and (3) accounts stated, are absolutely void. (b) Contracts made with infants relating to necessaries or for their benefit are valid. (c) By custom in certain places and by Act of Parliament, infants may enter into special kinds of contracts. (d) All other contracts made with infants may be avoided by them either before or within a reasonable time of their coming of age. 40. (a) Void Contracts of Infants.?It follows from the principles above laid down that if a merchant or shopkeeper supplies goods to an infant which are not necessaries, or if a money-lender lends him money, or if an account be stated of dealings with the infant, the merchant, the shopkeeper, the money-lender, or the person stating the account, has no remedy against the infant. The infant may pay what is due if he likes, but he is not bound to do so. Even if he represent himself to be of full age, the contract is void. The courts will not, however, allow any person, ...


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Product Details
  • ISBN-13: 9780217915366
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 88
  • Spine Width: 5 mm
  • Width: 189 mm
  • ISBN-10: 0217915361
  • Publisher Date: 20 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 172 gr


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