Circuit of the Americas (COTA) is a grade 1 FIA-specification 3.426-mile (5.514 km) motor racing track and facilities located within the extraterritorial jurisdiction of Austin, Texas.The facility is home to the Formula One United States Grand Prix, the IndyCar Classic, and the Motorcycle Grand Prix of the Americas, a round of the FIM Road Racing World Championship, as well a round of the Capacity to contract. A person´s competency, as defined by law, to make a contract. Capacity to contract is typically determined by whether a person has attained majority age and is mentally capable of understanding the contract terms. Related entries. UNIDROIT; Third-party beneficiary; Terms and Conditions (TS & Cs) Strike clause; Sociedad Anónima S.A. Competency and Capacity. A natural person who enters a contract possesses complete legal capacity to be held liable for the duties he or she agrees to undertake, unless the person is a minor, mentally incapacitated, or intoxicated. A minor is defined as a person under the age of 18 or 21, depending on the jurisdiction.