Contractual capacity of persons of unsound mind, Business Law and Ethics

Assignment Help:

Contractual Capacity of Persons of Unsound Mind

Furthermore a contract entered into through a person of unsound mind is voidable on his option whether it is proved that the other party was aware for his mental condition: as Imperial Loan Co. Ltd. v. Stone, whereas Lopes, L. J. stated that "a contract made through a person of unsound mind in not voidable on that person's option whether the other party to the contract believed on the equivalent time he made the contract that the person with whom that he was dealing was about sound mind".  Hence the following points should also be notice as;

Ratification

Moreover a contract entered into through a person whereas he is insane can be ratified with him whether he becomes of sound mind.

Necessaries

Conversely a person of unsound mind, like a drunken person then is liable for pay to necessaries supplied for him.  On the other hand he is only liable to pay reasonable prices to the necessaries under their S. 4 of the Sale with Goods Act.


Related Discussions:- Contractual capacity of persons of unsound mind

Duties of directors - company management, Duties of Directors: The dut...

Duties of Directors: The duties of directors are usually considered under two broad headings, namely- i. Duties of care and skill at common law, and ii. Fiduciary duties

Void contracts, Void Contracts - Law of Contract However these are con...

Void Contracts - Law of Contract However these are contracts which the law treats as non-existent.  Thus as a general rule illegal contract is only void although not certain r

#title.32228-05, Hi do you have solutions for 32228-05 question on law

Hi do you have solutions for 32228-05 question on law

Open national bidding, QUESTION 1 (a) What are the conditions for use o...

QUESTION 1 (a) What are the conditions for use of the Request for Sealed Quotation method? (b) Explain the procedures to be followed for the preparation of a shortlist for t

Defects in appointment - company management, Defects in Appointment: S...

Defects in Appointment: S.181 provides that a director's acts shall be valid despite any defect that may afterwards be discovered in his appointment or qualification. This pro

Conditions for relief - statutory provisions, CONDITIONS FOR RELIEF: I...

CONDITIONS FOR RELIEF: In H.R. Harmer Ltd (1959) Jenkins L.J. summarised the conditions which must be met before relief under the section can be granted by the court when he s

Different time zones in which the issue of jammu & kasmir, Following are di...

Following are different time zones in which the issue of Jammu & Kashmir could be divided: 1. 1947: when the dispute came up 2. 1948-1957: when the matter goes to UN, the su

Implied powers, Implied Powers:                                     Th...

Implied Powers:                                     The statement of Lord Cairns in 1875 in Ashbury Rail Co Ltd v Riche (22) to the effect that a contract beyond the objects o

State article 22 of air and outer space law, State Article 22 of air and ou...

State Article 22 of air and outer space law Article  22  states  that  all  the  States  should  prevent  unnecessary  delays  to  aircraft,  crews, passengers and  cargo,  esp

Define the sources of international law 2, SOURCES OF INTERNATIONAL LAW ...

SOURCES OF INTERNATIONAL LAW Apart from Treaty and Customs, the Statute of International Court of Justice (ICJ) under its article 38 (1) mentions some other sources of internati

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd