Final answer:
The correct answer is an adult who did not finish high school, as they meet the criteria for being a legally competent party that can enter an enforceable contract. Educational level does not affect legal competency to contract.
Step-by-step explanation:
To determine who is a legally competent party capable of entering an enforceable contract, we must consider several factors. A legally competent party should be of legal age, mentally competent, and not under the influence of substances that impede decision-making. Based on the choices provided:
- An adult who did not finish high school is indeed capable of entering a contract as their educational level does not impact legal competence.
- A minor, even with parental consent, is not a competent party themselves; the contract would be with the parent or guardian in most circumstances.
- An individual with a severe mental disability would not be considered competent if the disability impairs their understanding of the contract.
- Someone under the influence of drugs or alcohol would likely not be considered competent as their impaired state could interfere with their decision-making abilities.
Therefore, the correct answer is An adult who did not finish high school (Option A), as legal competency is not tied to educational achievement.
Contractual rights are based on property rights and the ability to enter agreements regarding the use of property with the backing of a legal system that enforces contracts. This framework is vital for economic growth and the smooth transaction of business. For example, in the employment contract of a surgeon, failure to pay for the services rendered would be considered theft, and the surgeon would have legal recourse to claim their payment.