Mental Capacity to Contract

The video tutorial explains the concept of mental capacity in contract law, highlighting that individuals must understand the nature of agreements they enter into. It identifies groups lacking this capacity, such as minors, mentally incompetent individuals, and those temporarily incapacitated, like intoxicated persons. Contracts with such individuals are voidable, meaning they can be invalidated if the individual regains capacity or decides against the contract. Understanding mental capacity is crucial for ensuring valid and enforceable contracts.

What does it mean for an individual to have the mental capacity to enter into a contract?

Who are the individuals that are generally considered to lack the mental capacity to enter into contracts?

How does temporary intoxication affect an individual's ability to enter into a valid contract?

What happens to a contract if a person who lacks mental capacity decides they do not want to be part of it?

Why is it important to understand the concept of mental capacity in relation to contracts?