Law powerpoint team 10 final

• 1. Presented By:
  TEAM10
  

2. 3. Business Law Jeopardy
4. This legal term refers to a persons ability to understand the nature and effect of an agreement.
5. Answer:
What is capacity?
6. 7. Business Law Jeopardy
8. A minor can enter into a contract for necessaries. This is an example of a necessary.
9. Answer:
What is clothing?
10. 11. Business Law Jeopardy
12. This requires that both parties possess the capacity to enter into an agreement.
13. Answer:
What is a contract?
14. 15. Business Law Jeopardy
16. This is the term for cancellation or rejection of a contract made during ones minority.
17. Answer:
What isto disaffirm?
18. 19. Business Law Jeopardy
20. After a minor reaches majority age, he/she may accept the contract, also known as this.
21. Answer:
What is ratify?
22. 23. Business Law Jeopardy
24. A minor would normally be void from entering into a contract except when the contract pertains to these.
25. Answer:
What are necessaries?
26. 27. Business Law Jeopardy
28. This mental impairment is sufficient to prevent one from understanding the nature of a contract or the consequences of his/her actions.
29. Answer:
What is insanity?
30. 31. Business Law Jeopardy
32. This type of person cannot control his/her appetite for alcohol and therefore lacks capacity.
33. Answer:
What is a habitual drunkard?
34. If an individual enters into a contract while drunk, he/she must do this with the goods received.
35. Answer:
What is return them to the other party?
36. 37. Final Thoughts