Question 1

Minors are liable in a quasi contract for the reasonable value of any necessaries furnished to them.

Accepted Answer

A) True 
 B)False

Question 2

Todd, an emancipated minor, rented an apartment from Baker at $300 a month. At the end of a year, Todd moved out without paying the last two months' rent. Todd claimed that since he was a minor, he was not liable for the $600. Was he correct?

Accepted Answer

No. Minors are liable for the

Question 3

Ratification of a contract by a minor cannot be implied.

Accepted Answer

A) True 
 B)False

Question 4

The right of a minor or other incompetent party to avoid a contract is called ____________________.

Accepted Answer

The answer of The right of a minor or other...

Question 5

After a minor reaches the legal age of majority, he or she may disaffirm an executed contract for a luxury made while a minor only if he or she

Accepted Answer

A)  accurately represented his or her age when the item was purchased. 
B)  acts within a reasonable length of time. 
C)  disaffirms in writing. 
D)  returns the luxury item in new or unused condition. 
A)  accurately represented his or her age when the item was purchased. 
B)  acts within a reasonable length of time. 
C)  disaffirms in writing. 
D)  returns the luxury item in new or unused condition.

Question 6

A(n) ____________________ is an adult appointed by the courts to have custody and care of an incompetent party.

Accepted Answer

The answer of A(n) ____________________ is an adult appointed by...

Question 7

A contract between an adult and a minor is

Accepted Answer

A)  voidable only by the minor. 
B)  voidable only by the adult. 
C)  unenforceable. 
D)  void. 
A)  voidable only by the minor. 
B)  voidable only by the adult. 
C)  unenforceable. 
D)  void.

Question 8

A minor's willingness to be bound by a contract he or she has made is called ____________________.

Accepted Answer

The answer of A minor's willingness to be bound by...

Question 9

In most states (majority rule) a minor may disaffirm a contract even though the consideration received cannot be returned.

Accepted Answer

A) True 
 B)False

Question 10

Necessaries include

Accepted Answer

A)  the basics-food, clothing and shelter. 
B)  the services of an attorney. 
C)  things included in the minor's station in life. 
D)  all of these. 
A)  the basics-food, clothing and shelter. 
B)  the services of an attorney. 
C)  things included in the minor's station in life. 
D)  all of these.

Question 11

An intoxicated person may avoid a contract on becoming sober

Accepted Answer

A)  only if the other party had reason to know that the person was drunk and did not understand the consequences of the transaction. 
B)  under any circumstances. 
C)  only if he or she was slightly intoxicated. 
D)  only if the contract is one for necessaries. 
A)  only if the other party had reason to know that the person was drunk and did not understand the consequences of the transaction. 
B)  under any circumstances. 
C)  only if he or she was slightly intoxicated. 
D)  only if the contract is one for necessaries.

Question 12

Grasso sold her computer to Robb for $1,500, payable in thirty days. Robb had misrepresented his age as twenty-one when in fact he was only seventeen. At the end of the thirty days, Robb returned the computer and disaffirmed the purchase. Grasso refused to accept the computer and sued Robb for the purchase price. Will Grasso succeed?

Accepted Answer

No. Minors may disaf

Question 13

The contracts of mentally ill persons not judged insane by the courts are

Accepted Answer

A)  void. 
B)  able to be disaffirmed if made during a period of normalcy. 
C)  binding on the persons' guardians. 
D)  none of these. 
A)  void. 
B)  able to be disaffirmed if made during a period of normalcy. 
C)  binding on the persons' guardians. 
D)  none of these.

Question 14

Craven, a minor, sold her exercise bicycle to Franklin, an adult, who resold it to Lavin, a good faith purchaser. Lavin's title to the bicycle is

Accepted Answer

A)  voidable. 
B)  valid. 
C)  void. 
D)  unenforceable. 
A)  voidable. 
B)  valid. 
C)  void. 
D)  unenforceable.

Question 15

Legally declared (by a court) insane persons can be liable for necessaries in quasi-contract.

Accepted Answer

A) True 
 B)False

Question 16

A minor may disaffirm a contract

Accepted Answer

A)  at any time up until a reasonable time after reaching majority. 
B)  only after reaching majority. 
C)  but must do so before reaching majority. 
D)  if it is for necessaries. 
A)  at any time up until a reasonable time after reaching majority. 
B)  only after reaching majority. 
C)  but must do so before reaching majority. 
D)  if it is for necessaries.

Question 17

The minor's obligation to pay for necessaries is based on the theory of quasi contract. This theory protects

Accepted Answer

A)  minors in their dealings with adults. 
B)  adults in their dealings with minors. 
C)  minors in their dealings with other minors. 
D)  minors in their dealings with a parent or guardian. 
A)  minors in their dealings with adults. 
B)  adults in their dealings with minors. 
C)  minors in their dealings with other minors. 
D)  minors in their dealings with a parent or guardian.

Question 18

Three months before his 18th birthday, Martin bought a used motorcycle for $3,000 cash. Two years later Martin wanted to disaffirm the contract. May he legally do so?

Accepted Answer

No. Minors may disaffirm a con

Question 19

In virtually all states a person reaches the age of majority at eighteen for the purpose of making a contract.

Accepted Answer

A) True 
 B)False

Question 20

Of the following, the item most likely to be considered a necessary, thus obligating a minor to become liable for payment, is

Accepted Answer

A)  paying an employment agency for securing a job. 
B)  rent on an apartment. 
C)  attorneys' fees. 
D)  all of these. 
A)  paying an employment agency for securing a job. 
B)  rent on an apartment. 
C)  attorneys' fees. 
D)  all of these.

Exam 9: Capacity

Minors are liable in a quasi contract for the reasonable value of any necessaries furnished to them.

Todd, an emancipated minor, rented an apartment from Baker at $300 a month. At the end of a year, Todd moved out without paying the last two months' rent. Todd claimed that since he was a minor, he was not liable for the $600. Was he correct?

Ratification of a contract by a minor cannot be implied.

The right of a minor or other incompetent party to avoid a contract is called ____________________.

After a minor reaches the legal age of majority, he or she may disaffirm an executed contract for a luxury made while a minor only if he or she

A(n) ____________________ is an adult appointed by the courts to have custody and care of an incompetent party.

A contract between an adult and a minor is

A minor's willingness to be bound by a contract he or she has made is called ____________________.

In most states (majority rule) a minor may disaffirm a contract even though the consideration received cannot be returned.

Necessaries include

An intoxicated person may avoid a contract on becoming sober

The contracts of mentally ill persons not judged insane by the courts are

Craven, a minor, sold her exercise bicycle to Franklin, an adult, who resold it to Lavin, a good faith purchaser. Lavin's title to the bicycle is

Legally declared (by a court) insane persons can be liable for necessaries in quasi-contract.

A minor may disaffirm a contract

The minor's obligation to pay for necessaries is based on the theory of quasi contract. This theory protects

Three months before his 18th birthday, Martin bought a used motorcycle for $3,000 cash. Two years later Martin wanted to disaffirm the contract. May he legally do so?

In virtually all states a person reaches the age of majority at eighteen for the purpose of making a contract.

Of the following, the item most likely to be considered a necessary, thus obligating a minor to become liable for payment, is

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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Three months before his 18^th birthday, Martin bought a used motorcycle for $3,000 cash. Two years later Martin wanted to disaffirm the contract. May he legally do so?