| A | B |
|---|
| age at which a person can be legally bound to contracts | age of majority |
| ability to understand | capacity |
| ability to understand that a contract is being made and its general meaning | contractual capacity |
| both parties to a contract return the consideration | disaffirmance |
| severing the child-parent relationship | emancipation |
| occurs when a court decrees the minor emancipated | formal emancipation |
| parties who have special contractual rights due to a legally recognized lack of such capacity including minors, the intoxicated, and the mentally incapacitated | incapacitated |
| arises from the conduct of the minor or the parent, such as when the parent and minor agree that the parent cease support or when the minor marries, moves out of the family home, becomes a member of the armed forces, gives birth, or undertakes a full time job | informal emancipation |
| mental impairment caused by voluntary use of alcohol, drugs, or inhalants | intoxication |
| condition in which a party to a contract is unable to understand the consequences of the contractual act | mental incapacity |
| individual under the age of majority (18 in most states) | minor |
| minor part of a person's life (typically under the age of 18) | minority |
| things needed to maintain life and lifestyle | necessaries |
| acting toward the contract as though one intends to be bound by it; principal's assent to unauthorized acts of an agent | ratification |
| in employment law, range of acts an organization has authorized an employee to do; in agency, range of acts authorized by the principal | scope of authority |
