Chapter 14

The legal ability to enter into a contractual relationship.

When a person is no longer a minor for contractual purposes is eighteen years.

This occurs when a child's parent or legal guardian relinquishes the legal right to exercise control over the child. Normally, minors who leave home to support themselves are considered .... Several jurisdictions permit minors themselves to petition a court for ....

A minor must express their intent, through words or conduct, not to be bound to the contract. The minor must ... the entire contract, not merely a portion of it.

Basic needs, such as food, clothing, shelter, and medical services. Contracts for these are enforceable only to the level of value needed to maintain the minor's standard of living.

The act of accepting and giving legal force to an obligation that previously was not enforceable. A minor who has reached the age of majority can ... a contract expressly or impliedly.

Any individual or organizatoin who makes a loan at an interest rate above the lawful maximum commits this.

May be created when a merchant who sells a store agrees not to open a new store in a certain geographic area surrounding the old business. Such an agreement enables the seller to sell, and the purchaser to buy, the goodwill and reputation of an ongoing business without having to worry that the seller will open a competing business a block away.

When the court converts the terms into reasonable ones and then enforce the new, .... contract.

Bargains that are so unscrupulous or grossly unfair as to be "void of conscience". It can be so on either procedural or substantive grounds.

Releases a party from liability in the event of monetary or physcial injury no matter who is at fault.