Hedgepeth v. Home Savings & Loan Ass'n

ORR, Judge.

It is well established in our state that a contract executed by an incompetent prior to being so adjudicated, is voidable and not void ab initio. Reynolds v. Earley, 241 N.C. 521, 85 S.E. 2d 904 (1955). The party contracting with an incompetent may nevertheless enforce the agreement if the following requirements can be established: (1) ignorance of the party’s mental incapacity; (2) lack of notice of the incapacity such as would indicate to a reasonably prudent person that inquiry should be made of the party’s mental condition; (3) payment of a full and fair consideration; (4) that…