Who Can Make a Contract?

Who Can Make a Contract? by Hesham Elrafei Lex Animata
Who Can Make a Contract?

A party to a contract can either be a natural or a legal person.

As a party to a contract holds the obligations and receives the benefits of a legally binding agreement, both parties must be ‘competent’ for a contract to be valid.

When the parties agree, there are two distinct roles: the promisor and the promisee.

The promisor is the one that makes the promise, while the promisee is on the receiving end of the promise.

In addition, each party must have the legal capacity to enter the agreement. This means that both parties must be free of mental illness and hold the authority to enter into the contract.

As a result, Minors, intoxicated persons, and those under a mental affliction may have insufficient capacity to enter a contract.

#law #contract