For a valid contract, the parties to a contract must have capacity or competence to enter into a contract. Every person is presumed to have capacity to contract but there are certain persons whose age, condition or status renders them incapable of binding themselves by a contract. Though the law does not give license to everyone to enter into a contract the Contract Act, 1872 prescribes specific qualifications to attain to be competent to enter into a contract, why do you think having certain capacities are important to form a contract? Discuss different cases where a person can be disqualified from being a party to a contract.