Contracts
In Mississippi, a contract entered into by a person who has been adjudicated incompetent is:
AVoidable at the competent party's option
BValid if the terms are fair
CVoid✓ Correct
DEnforceable with court approval
Explanation
A contract with a person who has been legally adjudicated incompetent is void—it has no legal effect from the beginning because the party lacks legal capacity.
Related Mississippi Contracts Questions
- A Mississippi seller receives two offers simultaneously. Offer A is for $250,000 cash with 10-day closing. Offer B is for $265,000 with conventional financing and 45-day closing. The listing agent should:
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