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In terms of capacity, this means that they are no more than the sum of the natural persons who conduct the business. The other group of states allows partnerships to have a separate legal personality which changes the capacity of the "firm" and those who conduct its business and makes such partnerships more like corporations.
In the common law tradition, testamentary capacity is the legal term of art used to describe a person's legal and mental ability to make or alter a valid will. This concept has also been called sound mind and memory or disposing mind and memory .
In law, individual capacity is a term of art referring to one's status as a natural person, distinct from any other role. [1]For example, an officer, employee or agent of a corporation, acting "in their individual capacity" is acting as an individual, rather than as an agent of the corporation.
Capacity in English law refers to the ability of a contracting party to enter into legally binding relations. If a party does not have the capacity to do so, then subsequent contracts may be invalid; however, in the interests of certainty , there is a prima facie presumption that both parties hold the capacity to contract.
Term used in contract law to specify terms that are voided or confirmed in effect from the execution of the contract. Cf. ex nunc. Ex turpi causa non oritur actio: ex nunc: from now on Term used in contract law to specify terms that are voided or confirmed in effect only in the future and not prior to the contract, or its adjudication. Cf. ex ...
In United States and Canadian law [citation needed], competence concerns the mental capacity of an individual to participate in legal proceedings or transactions, and the mental condition a person must have to be responsible for his or her decisions or acts. Competence is an attribute that is decision-specific.
"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links." There are about as many performance supplements on the market as there are protein-packed foods in a ...
In criminal law, diminished responsibility (or diminished capacity) is a potential defense by excuse by which defendants argue that although they broke the law, they should not be held fully criminally liable for doing so, as their mental functions were "diminished" or impaired.