Chapter 8 Flashcards
Legal Capacity
competence to bind oneself legally
Repudiate
reject or declare an intention not to be bound by
Minor/Infant
a person who has not attained the age of majority according to the law of his or her province
Age of majority
the age at which a person is recognized as an adult according to the law of his or her province
Guardian
a person appointed to manage the affairs of a minor in the place of his or her parents
Necessaries
essential goods and services
Beneficial Contract of sevices
contracts of employment or apprenticeship found to be for a minor’s benefit
Voidable contract
a contract that may be rendered non-binding at the option of one of the parties
Ratify
acknowledges and promises to perform
Void
never formed in law
Representative action
an action brought by one or more persons on behalf of a group having the same interest
Aboriginal People
Canadian Indian, Inuit, and Métis peoples\
First Nation
Canadian Indigenous people who are not Métis or Inuit
Indian Bands
groups of Indian persons for whose benefit land or money are held by the Crown as described in the Indian Act
Illegal
offends the public good or violates a statute
Unenforceable
no court assistance or remedy is available to parties of the contract
Severed
removed from the contract
Wager
an agreement between two persons in which each has some probability of winning or losing
Stakeholder
a person or organization that manages a betting arrangement for a fee and redistributes winnings
Arbitration agreements
contracts that require all disputes to be resolved in arbitration, not the courts
Agreement in restraint
agreements that restrict competition, also known as non-competition agreements, non-solicitation agreements, or restrictive covenants when they are included in a larger contract
Restrictive Convenant
a term in restraint of trade, that is, a promise not to carry on a competing business activity
Rebut
overcome
