| A | B |
|---|
| Age Of Majority | Age at which a person can be legally bond to contracts 19 or 21 |
| Contractual Capacity | Ability to understand that a contract is being made and it's general meaning |
| Disaffirmance | Both parties return the consideration of a contract |
| Emancipation | Severing the child-parent relationship |
| Intoxication | Mental impairment caused by voluntary use of alchol, drugs, or inhalants. |
| Mental Incapacity | Condition in which a party is unable to understand the consequences of the contractural act. |
| Minor | Individual under the age of majority (18 in most states) |
| Minority | Minor part of a person's life (typically under the age of 18) |
| Necessaries | Things needed to maintain life and lifestyles. |
| Non-Necessaries | Things that are considered luxuries. |
| Ratification | Acting toward the contract as though one intends to be bound by it; principal's assent to unauthorize acts of an agent. |
| Scope Of Authority | The range of acts that an organization authorizes a person to do |
