Q: What are the requirements for mental incapacity to contract?
1. -If previously adjudicated incompetent, the contract is void. If not yet adjudicated incompetent, but reviewed as incompetent, the contract is voidable.
2. Tests of mental capacity:
- Did party understand the nature and quality of the transaction or grasp its significance? OR
- Was party able to act in a reasonable manner in relation to the transaction and the other party had reason to know the party was acting reasonably?
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