Law Sample Paper on What Is Contractual Capacity?
Contractual capacity refers to the ability of the parties to a contract to engage in the indenture, and it is the main condition that makes it enforceable. Some of the elements that make one have the capacity are being over the age of a minor, having a sober mind, and being under no substance abuse. This means that the mentally challenged, people under incarceration, and those intoxicated in substance abuse cannot engage in contracts.
Topic 2: What Are the Elements of a Contract?
A contract has four elements, which are agreement, lawful object, consideration, and contractual capacity. The agreement refers to the offer, which is given by the offeror and its acceptance by the offeree. On the other hand, consideration implies that the agreement must be supported by a bargained-for element that is legally sufficient such as money or service delivery. Then again, contractual capacity is the element that requires the parties to be eligible for the deal to be enforceable by law. Failure to meet the requirement makes the treaty called off. The final aspect is the lawful object that requires the agreement, in which the contractual parties engage in to be legal. Any contract that goes against the legal code is considered illegal and unenforceable.
Topic 3: In What Cases is Silence Considered as Acceptance in Agreement?
One situation is when the offeree indicates that silence means assent or when they sign an agreement that indicates their continued acceptance until they make further notifications. In addition to that, when the previous dealings between the parties indicate or imply that silence means acceptance, the agreement is then legally recognized.