Question: From the above scenario, the answer should be based on this: Legal capacity to contract regarding the age of majority, sound mind and not disqualified

From the above scenario, the answer should beFrom the above scenario, the answer should be based on this:

From the above scenario, the answer should beLegal capacity to contract regarding the age of majority, sound mind and not disqualified and why this contract to be valid

Example(scenario): Benny, a 17+ year old boy, who wants to buy a PS5, so he decides to go to the shop to purchase it. When he back home, his mom saw the PS5 and she gets angry and then she calls the store owner to request Tom's deposit back. The store owner has a right to keep hold on Benny's deposit and to the contract. The reason is, as an evidence that boy identified himself as being of legal age to contract for purchasing the PS5. To bring it a step further, Benny bought the PS5 few months before his 18th birthday, then he can void the contract. He has to tell the store owner that he intends to void the contract. So, he brings to the court to be formally released from the contract and the court say that the store owner must return his money because the store owner form a contract with a person who is minor. However, if the boy was 18 and above, this would have been a legal contract therefore the store owner can form a contract with the boy. 6. CAPACITY Parties to a contract should be competent to contract, i.e. have the legal capacity to do so. Where one or more of the parties to a contract lack the capacity - contract invalid / void. - Tan Hee Juan Age of Sound Majority ivind Not Disqualified Legal Capacity to Contract

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!