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Legal Capacity and Formalities in Contracts - Coggle Diagram
Legal Capacity and Formalities in Contracts
Legal Incapacity
The Ratio Behind Legal Incapacity
Definition
Understanding the reasoning behind why certain individuals are deemed legally incapable.
Examples
Minor’s inability to contract due to lack of experience.
Contracts Binding on Minors
English Law
Minors can enter into contracts for necessities (e.g., food, clothing).
Example
Corpe v Overton (1833)
French Law
Contracts valid if ratified by a guardian.
Example
Code Civil, Art. 389
German Law
Contracts generally void unless for daily needs.
Example
BGB § 104-113
Dutch Law
Minors can bind themselves for necessities.
Example
Burgerlijk Wetboek, Art. 1:234
Role of Age in Legal Incapacity
Explanation of how age affects legal capacity (e.g., minimum age of majority).
Example
Age of majority is 18 in most jurisdictions.
Contracts Binding on Adults with Mental Disabilities
Protection mechanisms for adults deemed incapacitated.
BGB § 104 regarding legal transactions.
Reliance of the Other Party
Importance of good faith and reliance in contractual agreements.
Example
Expectation of reliance when dealing with minors or incapacitated individuals.
Statutory Representatives of Incapacitated Persons
Role of guardians or representatives in contract execution.
Example
Guardianship laws in the relevant jurisdictions.
Principle of Informality
General principle that contracts do not require formalities.
Example
Verbal contracts are binding under certain conditions.
Reasons for Formalities
Protection, clarity, and prevention of fraud.
Example
Formalities required for property transfer.
Contracts Requiring Notarial Deed
Specific contracts that must be notarized (e.g., real estate).
Example
French Civil Code, Art. 1832 regarding company formation.
Civil Law Notary and Notary Public
Differences in roles and functions between civil law notaries and common law notaries.
Example
Notaries in civil law are public officials, while in common law, they primarily witness signatures.
Contracts to be Made by Deed
Types of contracts requiring a deed.
Example
Deeds of gift under various jurisdictions.
Contracts to be Made in Writing
Specific contracts requiring written form (e.g., real estate).
Example
BGB § 125.
Contracts to be Evidenced in Writing
Requirement for certain contracts to be documented.
Example
Commercial agreements under various laws.
Specific Contract Types
Donation
Legal requirements and formality.
Consumer Credit
Information duties to protect consumers.
Suretyship
Necessity for written contracts.
Example
Relevant articles from English, French, German, and Dutch laws.
Pre-Contractual Information Duties
Requirements for information before contracts are formed.
Example
EU Directive 2000/31 on electronic contracts.
Electronic Contracts and Withdrawal Rights
Rules governing online contracts and consumer rights.
Example
Consumer protection regulations.
Sanctions for Lack of Form
Consequences of not adhering to formalities.
Example
Contracts void if not executed correctly.
Curing a Lack of Form
Legal provisions allowing for rectification of formal deficiencies.
Examples
Principles of ratification in contract law.