LAW 505-002 – Contracts I

Restatement Second of Contracts § 12

Capacity to Contract

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  1. No one can be bound by contract who has not legal capacity to incur at least voidable contractual duties. Capacity to contract may be partial and its existence in respect of a particular transaction may depend upon the nature of the transaction or upon other circumstances.
  2. A natural person who manifests assent to a transaction has full legal capacity to incur contractual duties thereby unless he is
    1. under guardianship, or
    2. an infant, or
    3. mentally ill or defective, or
    4. intoxicated.