Commercial Law 1 A - Contractual Capacity/Capacity to Act

These flashcards cover key concepts related to contractual capacity and the legal principles affecting the ability to act.

Contractual Capacity

The capacity to perform juristic acts.

Legal Capacity

Competence to have rights and duties and incur civil or criminal liability.

Natural Persons

Individuals who have the capability to act and can enter into contracts.

Juristic Persons

Artificial entities that have legal personality and can perform juristic acts through representatives.

Age Limitation in Contractual Capacity

Children aged 0-7 cannot act; ages 8-17 have limited capacity requiring parental assistance.

Full Contractual Capacity

Attained at age 18, allowing individuals to enter into valid contracts.

Majority

The age at which a person is considered an adult, set at 18 years in South Africa.

Ratification

The approval of a contract after it has been created, which can bind a minor.

Prodigals

Individuals with a propensity to squander money irresponsibly who may have limited capacity to act.

Insolvency as Limitation

Loss of capacity to contract concerning the assets of an insolvent estate after sequestration.

Mental Deficiency

Inability to understand or appreciate the nature or consequences of conduct, leading to void contracts.

Alcohol or Drugs Influence

State of intoxication that can impair the ability to form a contract, rendering it void.

Juristic Acts

Legal acts performed by individuals or juristic persons.