Contractual Capacity of the Parties

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FLORIDA REAL ESTATE SALES ASSOCIATE COURSE

Real Estate Contracts

Section 4 of 45

Not everyone has the legal ability to enter into a contract. To have contractual capacity, a person must:Be of legal ageBe mentally competentNot be legally insane, severely intoxicated, or suffering from conditions like dementiaPeople who are minors or mentally impaired may have limited or no ability to enter into a binding contract. When both parties have legal capacity, they are considered competent parties.