Question

What do you understand by 'competency to contract ' ? Who are the various persons considered as in competent by law to enter into contract? ​

Answer 1

Answer:

According to Section 11, “Every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is of sound mind and is not disqualified from contracting by any law to which he is subject.”

Answer 2

The common law rule stipulates that persons under the age of 21 years are considered a minor and therefore are deemed by law to lack contractual capacity. Many states have changed this rule and reduced the age limit from 21 to 18 years. Other states have changed the age of majority to 19 years.