Question 1

A minor may disaffirm or ratify a portion of an agreement.

Accepted Answer

A) True 
 B)False  False

Question 2

A minor who is no longer under the control and authority of parents is said to be ____________________.

Accepted Answer

emancipated

Question 3

Minors are generally liable for their torts.

Accepted Answer

A) True 
 B)False  True

Question 4

A mentally ill person (not judged incompetent by a court) can be held liable for necessaries in a quasi contract.

Accepted Answer

A) True 
 B)False

Question 5

A minor who buys a necessary is obligated to pay the

Accepted Answer

A)  price stated in the agreement. 
B)  reasonable value of the necessary. 
C)  seller's cost. 
D)  price demanded by the seller. 
A)  price stated in the agreement. 
B)  reasonable value of the necessary. 
C)  seller's cost. 
D)  price demanded by the seller.

Question 6

A minor may not disaffirm an executed contract.

Accepted Answer

A) True 
 B)False

Question 7

If a mentally ill person is determined by a court to be insane, a subsequent agreement by this insane person to purchase a TV set from the TV Home Center would be

Accepted Answer

A)  enforceable. 
B)  voidable. 
C)  illegal. 
D)  void. 
A)  enforceable. 
B)  voidable. 
C)  illegal. 
D)  void.

Question 8

While minors can generally disaffirm most contracts they make, they are generally liable for their ____________________.

Accepted Answer

The answer of While minors can generally disaffirm most contracts...

Question 9

The best precaution for a store owner who is about to sell a laptop computer to a minor is to

Accepted Answer

A)  sell for cash only. 
B)  have the agreement in writing. 
C)  indicate to the minor that the sale is final. 
D)  obtain the parent's signature on the agreement along with the minor's. 
A)  sell for cash only. 
B)  have the agreement in writing. 
C)  indicate to the minor that the sale is final. 
D)  obtain the parent's signature on the agreement along with the minor's.

Question 10

Emancipated minors are generally liable for necessaries.

Accepted Answer

A) True 
 B)False

Question 11

Contracts made by minors are void.

Accepted Answer

A) True 
 B)False

Question 12

A minor may ratify an agreement while still a minor.

Accepted Answer

A) True 
 B)False

Question 13

An adult has the legal right to ask a parent, guardian, or other adult to co-sign a contract made with a minor.

Accepted Answer

A) True 
 B)False

Question 14

When the contract is executory and a minor misrepresent his or her age, several states will:

Accepted Answer

A)  permit the minor to disaffirm an agreement and recover any consideration paid. 
B)  not permit the minor to disaffirm the agreement. 
C)  allow the adult to recover for damages resulting from the minor's misrepresentation. 
D)  hold the minor liable in tort for fraud. 
A)  permit the minor to disaffirm an agreement and recover any consideration paid. 
B)  not permit the minor to disaffirm the agreement. 
C)  allow the adult to recover for damages resulting from the minor's misrepresentation. 
D)  hold the minor liable in tort for fraud.

Question 15

A person only slightly intoxicated is not considered to be an incompetent party.

Accepted Answer

A) True 
 B)False

Question 16

In order to legally avoid contractual liability, a minor must always disaffirm the ____________________ contract.

Accepted Answer

The answer of In order to legally avoid contractual liability,...

Question 17

Bell, a minor, entered into a contract to sell some real property he owned to Franz, an adult. Bell may legally disaffirm this contract

Accepted Answer

A)  any time before attaining his majority. 
B)  within a reasonable time after attaining his majority. 
C)  on the day he signs the contract of sale. 
D)  none of these. 
A)  any time before attaining his majority. 
B)  within a reasonable time after attaining his majority. 
C)  on the day he signs the contract of sale. 
D)  none of these.

Question 18

After Michael, a minor aged sixteen, purchased a compact disc player from Rollins Electronics, he decided to return it. Before he got a chance to do so, his little brother smashed it with a hammer. In order to disaffirm the contract under the majority view, he

Accepted Answer

A)  need only return the damaged compact disc player. 
B)  must pay for any damage to the compact disc player. 
C)  must pay for any depreciation to the compact disc player. 
D)  must pay for any damage and pay for the use of the compact disc player. 
A)  need only return the damaged compact disc player. 
B)  must pay for any damage to the compact disc player. 
C)  must pay for any depreciation to the compact disc player. 
D)  must pay for any damage and pay for the use of the compact disc player.

Question 19

Whether an item is a necessary actually depends upon the minor's

Accepted Answer

A)  concept of what is or is not a necessary. 
B)  station in life. 
C)  opinion. 
D)  experience in dealing with adults. 
A)  concept of what is or is not a necessary. 
B)  station in life. 
C)  opinion. 
D)  experience in dealing with adults.

Question 20

Why are minors generally responsible for necessaries purchased from adults?

Accepted Answer

For the protection of the adul

Exam 9: Capacity

A minor may disaffirm or ratify a portion of an agreement.

A minor who is no longer under the control and authority of parents is said to be ____________________.

Minors are generally liable for their torts.

A mentally ill person (not judged incompetent by a court) can be held liable for necessaries in a quasi contract.

A minor who buys a necessary is obligated to pay the

A minor may not disaffirm an executed contract.

If a mentally ill person is determined by a court to be insane, a subsequent agreement by this insane person to purchase a TV set from the TV Home Center would be

While minors can generally disaffirm most contracts they make, they are generally liable for their ____________________.

The best precaution for a store owner who is about to sell a laptop computer to a minor is to

Emancipated minors are generally liable for necessaries.

Contracts made by minors are void.

A minor may ratify an agreement while still a minor.

An adult has the legal right to ask a parent, guardian, or other adult to co-sign a contract made with a minor.

When the contract is executory and a minor misrepresent his or her age, several states will:

A person only slightly intoxicated is not considered to be an incompetent party.

In order to legally avoid contractual liability, a minor must always disaffirm the ____________________ contract.

Bell, a minor, entered into a contract to sell some real property he owned to Franz, an adult. Bell may legally disaffirm this contract

After Michael, a minor aged sixteen, purchased a compact disc player from Rollins Electronics, he decided to return it. Before he got a chance to do so, his little brother smashed it with a hammer. In order to disaffirm the contract under the majority view, he

Whether an item is a necessary actually depends upon the minor's

Why are minors generally responsible for necessaries purchased from adults?

Foundations of Law and the Role of Ethics in Business

The Legal System in the United States and Its Constitutional Foundation

Personal, Business, and Cyber Crimes and the American Criminal Justice System

Tort Law: Traditional Torts and Cyber Torts

Litigation and Alternatives for Settling Civil Disputes

Contract Law: a Beginning

Agreement: Offer and Acceptance

Consideration

Legality

Memorialize Contracts in Writingstatute of Frauds

Transfer of Contract Rights and Duties

The Termination of Contracts: Discharge

The Termination of Contracts: Breach of Contract

Formation of Sales and Lease Contracts

The Sales Contract: Transfer of Title and Risk of Loss

The Sales Contract: Performance, Breach, and Remedies for Breach

Product Liability Law

Nature and Types of Negotiable Instruments

Issue, Transfer, Indorsement, and Discharge of Negotiable Instruments

Rights and Duties of Parties

Checks and the Banking System in the Twenty-First Century

Employer-Employee Relationship

Principal-Agent Relationship

Principal-Agent, Employer-Employee, and Third-Party Relationships

Sole Proprietorships, Partnerships, and Limited Liability Organizations

Corporations and Franchising

Government Regulation of Business

Basic Legal Concepts of Property

Renting Real Property

Buying and Selling Real Property

Nature and Types of Bailments

Wills, Intestacy, and Estate Planning

Protecting the Consumer and the Taxpayer

Protecting the Borrower

Protecting the Creditor

Property, Casualty and Automobile Insurance

Personal Insurance

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