Montana Code 28-2-203. Contracts of persons with limited understanding
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28-2-203. Contracts of persons with limited understanding. A conveyance or other contract of a person of unsound mind but not entirely without understanding, made before the person’s incapacity has been judicially determined, is subject to rescission as provided in part 17 of this chapter.
Terms Used In Montana Code 28-2-203
- Contract: A legal written agreement that becomes binding when signed.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.