However, it surprises many to learn that a broker isn’t legally required to act in a client’s best interests, only to make “suitable” recommendations. A fiduciary financial advisor, on the other hand, has a legal and ethical mandate to only recommend what’s best for a client. If ...
This means that the party, whose consent is influenced, is in a position to deny performing his obligation, then such anagreementis called a voidable contract. Nevertheless, if the option is not exercised within a reasonable time, it becomes a legally binding contract. As well as if the aggr...
If the property owner was under 18 years of age or under a legal disability (declared legally incompetent, for example) at the time the underlying property damage occurs, they'll have two years to file the lawsuit upon reaching the age of 18 or having the legal disability removed. (735 IL...
When an individual is unable to provide informed consent because they lack the decision-making capacity to process the information and/or they have been deemed legally incompetent, the health care team should obtain assent from the individual whenever possible. Questions remain as to how to proceed...
Lack of Capacity –If one of the parties was underage, mentally incapacitated, or otherwise legally incompetent at the time of signing, the contract is void. Illegal Subject Matter –Contracts involving illegal activities, such as fraud, bribery, or drug trafficking, are automatically void. Mistake...
Except for legally authorized involuntary treatment, patients who are legally competent to make medical decisions and who are judged by health care providers to have decision-making capacity have the legal and moral right to refuse any or all treatment. This is true even if the patient chooses to...
The first is to do with their mental ability to understand the contract and its consequences. This means someone can lack capacity by: 👶 Being a minor Although a minor can enter into some contracts legally, they are also afforded some special legal protection that entitles them to either vo...
John Senior is incapacitated and his brother seeks to be appointed as guardian or conservator to handle affairs on John Senior's behalf. John Senior's brother petitions the court to be legally appointed. John Junior, child of Senior, also wishes to be appointed and so petitions the court. ...
To declare legally insane. The court may certify a person as mentally incompetent. 6 Qualify To modify or restrict a statement or recommendation. She qualified her praise with a note of caution. 7 Certify To officially recognize someone or something as possessing certain qualifications or meeting ...
Adults who are declared legally incompetent and most minors are required to have a representative payee. The SSA makes decisions about other beneficiaries, such as someone with a drug or alcohol addiction, on a case-by-case basis and may determine that a legally competent adult needs a represent...