Who are competent to contract and who are incompetent to contract?

Every person is competent to contract, who, according to the law to which he is subject to:

1) is of the age of majority

2) is of sound mind

3) is not disqualified from contracting by any other law to which he is subject to.

The following person are not competent to contract

1) Minor

2) Person of unsound mind

3) Person disqualified from contracting by any law to which he is subject to.