Real Estate Law
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Has the person been declared legally incompetent by a judge or do they just have some cognitive issues, but are able to manage their financial and daily affairs themselves?
I haven't typed out my answer yet, I was waiting for your reply.. just a few minutes please.. this isn't an instant process.
Ok, from a legal perspective, it is not illegal, as in a violation of the law, to enter into a contract with someone who has a mental disability. However, if the disabled person did not have the capacity to understand the contract and its consequences, then they could seek to avoid it if they were to have their doctor testify in any court case that they didn't have the required mental capacity to understand the contract.
In a contract situation there has to be a "meeting of the minds" between the parties in order for a valid contract to be formed. So if one party can't mentally understand the contract or what it means, there is not the required meeting of the minds to form a binding contract.