Beruflich Dokumente
Kultur Dokumente
Minors – general rule – all contracts are voidable – minor only has to return what
he has; minority rule has to pay for the extent of the benefit received. If you’re
not a “good faith” purchaser though it might matter.
Necessaries – minors must pay for the reasonable price of goods to the extent the
items are necessaries.
Illegal contracts are void. Contracts against public policy are void.
Conditions –
Such an event that has to occur before a performance is due. Promise = any manifestation
or intention to act or refrain from acting in a specified way so made as to justify a promisee
in understanding that a commitment has been made. There is a general preference to
interpret something as a promise because it creates less hardship. Where it is a breach of a
promise, the promisee is entitled to money damages. Where it is a breach of a condition or
nonperformance of a condition, your performance is excused. That only works if the
performances are simultaneous. Where performance can be rendered simultaneously it is
due simultaneously, but if not the person whose performance akes time goes first. Parties
are free to contract around this default rule. Condition precedent has to occur before
performance comes due and condition subsequent describes an event that distinguishes a
duty that has already arisen.