Friday, 22 March 2013

Mentally Incompetent Persons

Mentally Incompetent Persons

Void.

§ If a person has been adjudged mentally incompetent by a court of law and a guardian has been appointed.

Voidable.

§ If the person does not know he or she is entering into the contract or lacks the mental capacity to comprehend its nature, purpose, and consequences.

Valid.

§ If person is able to understand the nature and effect of entering into a contract yet lack capacity to engage in other activities.

§ Lucid Interval.