Why do you think states have laws requiring that contracting parties have capacity to enter into a contract? Do you these laws are beneficial? Do you know anyone who has been unable to enter into a contract due to incompetence, for example a relative with Alzheimer's Disease? If not, have you heard of any famous people who are unable to enter into contracts (if not, Google Britney Spears, Amanda Bynes, Joni Mitchell, Brian Wilson)? What happened to them (your friend/family member or the celebrity)?

Answer rating: 100% (QA)

Laws requiring contracting parties to have the capacity to enter into a contract serve several important purposes Protection of Vulnerable Individuals ... View the full answer