A binding promise or agreement requires that the parties to the agreement have contractual capacity.

Question

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Contractual capacity refers to the legal ability of parties to enter into a binding agreement. If a party lacks this capacity (e.g., due to being a minor, having a mental impairment, etc.), the agreement may be considered void or voidable, making this a necessary condition for a binding promise or agreement.

A Binding Promise or Agreement Requires That the Parties to the Agreement