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Vitiating Factors (Mistake (Unilateral Mistake Term of contract - [Taylor…

- - - - VOIDABLE
  - - - VOID
  - - - VOID
- - - - VOID the contract but no penalty
      - Penalty and VOID
      - Penalize the conduct only (contract still stands)
- - - - VOIDABLE
      - Exceptions
        
        Necessaries
        
        Necessary for the individual's lifestyle
        [Bojczuk v Gregorcewicz (1961)]
        
        Beneficial Contracts
        
        Beneficial for the minor
        [Hamilton v Lethbridge(1912)]
      - Unenforceable against the minor
      - Continuing interest or obligation [Corpe v Overton (1833)]
    - - Intoxication
      - Intellectual Disability
      - Insanity
      - Exception
        
        Sale of products that are necessaries
        
        Exception: If the seller knew or should have known of their lack of capacity and the buyer was not capable of understanding the nature of the agreement
- - - - 3rd party beneficiary of an insurance contract is entitled to enforce
      - Novation - A asks C to take over his contract with B
      - Assignment - Y asks X to pay Z instead of Y