What is contractual capacity? What is the difference between status incapacity and factual incapacity?

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What is contractual capacity? What is the difference between status incapacity and factual incapacity?

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Contractual capacity is an individual's faculty to sign binding contracts with any other party or parties, in one case for himself or in other cases on behalf of a third party. It is legal competence.

Status Incapacity – Minors do not have the legal capacity to contract.

Factual incapacity – Mental incompetence to go into a contract due to drugs, alcohol, illness or age

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