- Agent's duties and liabilities — Construction of contract — Formation of contract — Validity of contract
This chapter cites the capacity to contract legal persons and natural persons. Legal capacity in this work is concerned only with a person or party’s legal ability to contract. Some jurisdictions distinguish between the capacity to have legal rights and the capacity to make legal decisions and contract in line with applicable law. Generally, all jurisdictions recognize that natural persons have the legal authority to enter into contracts except for those limitations of age, mental capacity, and office they hold. Meanwhile, corporations gain their capacity to contract from the statute. The chapter notes the ultra vires doctrine is the most significant issue in the context of legal capacity.
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