Asked by Lawrence Woods on Jul 03, 2024
Verified
A binding promise or agreement requires that the parties to the agreement have contractual capacity.
Contractual Capacity
The legal ability of a person or entity to enter into a contract.
- Familiarize yourself with the concept of contractual capacity and its applicability to those underage.
Verified Answer
NT
Nh?t Tr??ng Nguy?nJul 06, 2024
Final Answer :
True
Explanation :
Contractual capacity refers to the legal ability of parties to enter into a binding agreement. If a party lacks this capacity (e.g., due to being a minor, having a mental impairment, etc.), the agreement may be considered void or voidable, making this a necessary condition for a binding promise or agreement.
Learning Objectives
- Familiarize yourself with the concept of contractual capacity and its applicability to those underage.
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