When a Person Lacks Capacity to Contract Due to a Mental

question 14

True/False

When a person lacks capacity to contract due to a mental impairment,the contract is void.In contrast,when a person lacks capacity to contract due to intoxication,the contract is voidable.

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Definitions:

Monopoly

A market structure characterized by a single seller who has exclusive control over a particular good or service.

Criminal Offenses

Acts or omissions punishable by law as defined by statute or common law.

Clayton Act

A U.S. antitrust law enacted in 1914 aimed at promoting competition and preventing monopolies by prohibiting certain anti-competitive practices.

Celler-Kefauver Act

is a United States antitrust law passed in 1950 that prevents companies from acquiring assets of competitors if the effect would be to substantially lessen competition or create a monopoly.