Question Answer
The procedure by which a minor can approve a voidable contract on reaching majority. Ratify
Minors who are no longer under the control of their parents. Emanicipated
Term used to describe a person who has no reached the age of legal adulthood. Minority
Legal ablilty to enter a contract. Capacity
People who are living in this country, but who owe their allegiance to another country. Aliens
Items such as food, clothing, shelter, or medical supplies for whcih a minor can be held responsible for fair value. Necessaries
One who is appointed by the court to look after the affairs of a mentally imcompetent person. Guardian
Status of a person who has reached the age at which full civil rights are granted. Majority
An assumption that can be challenged in a court of law. Rebuttable Presumption
Young person who has not reached the age of legal adulthood. Minor
Consideration that took place before a contract was made. Past Consideration
Something that a party was not previously entitled to receive. Benefit
Consideration
A legal obligation to do something or under contract to do something/ Preexisting Duty
Without value or legal consideration. Graduitous
Appearing at first to bind both parties to a contract, but in actually not doing so. Illusory Promise
Contracts in which there is a great inequality in bargaining power between the parties, and the party with all or most of the power takes advantages of the other party. Unconscionable
The act of refraining to do something that a person has a legal right to do. Forbearance
The giving up, or surrender, of a claim or right or action. Release
The doctrine that a promise may be enforceable without consideration if that promise reasonably induced another's action, and the breaking of that proise would result in injustice. Promissory Estopped