Which group of individuals is generally not considered to have the capacity to be bound by contracts?

The group of individuals that is generally regarded as not having the legal capacity to be bound by contracts includes minors, intoxicated persons, and those deemed mentally incompetent.

Minors, typically individuals under the age of 18, are considered to lack the legal capacity to enter into contracts due to their age. This is to protect them from entering into agreements they may not fully understand. Although they can engage in contracts for necessities (like food and shelter), most contracts made by minors are voidable at their discretion.

Intoxicated persons may also lack the capacity to contract. If an individual is under the influence of drugs or alcohol to the extent that they do not understand the nature and consequences of the transaction, contracts entered into during such state can be voided by that person once they regain sobriety.

Lastly, individuals classified as mentally incompetent due to mental illness or disability are also unable to enter into binding agreements. If a person cannot understand the terms of a contract or the ramifications of entering into such an agreement due to cognitive limitations, their ability to be bound by such contracts is significantly impaired.

This understanding of capacity is crucial in contract law, ensuring that all parties involved possess the ability to comprehend and fulfill their contractual obligations, thereby maintaining fairness and legal integrity