Question 1

Why does the law protect minors in their dealings with adults?

Accepted Answer

The law presumes tha

Question 2

Courts usually rule in favor of individuals who claimed to be intoxicated at the time of entering into a contract.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following situations would not constitute a ratification of a contract by a minor?

Accepted Answer

A)  Prior to reaching majority, a minor expressly agrees to be bound by the terms of the contract. 
B)  After reaching majority, the minor fails to disaffirm the contract within a reasonable time. 
C)  After reaching majority, the minor expresses in writing an intention to be bound by the terms of the contract. 
D)  After reaching majority, the minor expresses orally an intention to be bound by the terms of the contract. 
A)  Prior to reaching majority, a minor expressly agrees to be bound by the terms of the contract. 
B)  After reaching majority, the minor fails to disaffirm the contract within a reasonable time. 
C)  After reaching majority, the minor expresses in writing an intention to be bound by the terms of the contract. 
D)  After reaching majority, the minor expresses orally an intention to be bound by the terms of the contract.

Question 4

____________________ are those things a person actually needs to live, such as food, clothing, and shelter.

Accepted Answer

The answer of ____________________ are those things a person actually...

Question 5

The contracts of mentally ill persons not judged incompetent by a court are ____________________.

Accepted Answer

The answer of The contracts of mentally ill persons not...

Question 6

The law grants the right of disaffirmance to ____________________ minors, regardless of whether the agreement is fair or unfair to the minor.

Accepted Answer

The answer of The law grants the right of disaffirmance...

Question 7

Minors are liable for the reasonable value of necessaries

Accepted Answer

A)  actually furnished. 
B)  that they agreed to purchase. 
C)  that their parents agreed to pay for. 
D)  as determined by the merchant who sold the necessaries to the minor. 
A)  actually furnished. 
B)  that they agreed to purchase. 
C)  that their parents agreed to pay for. 
D)  as determined by the merchant who sold the necessaries to the minor.

Question 8

Ordinarily, if an agreement is completely executory, the minor's failure to act after reaching majority is considered an act of ____________________.

Accepted Answer

The answer of Ordinarily, if an agreement is completely executory,...

Question 9

Marilyn celebrates her 18th birthday and decides that she no longer wishes to keep a car that she bought when she was 17. Her right to disaffirm will depend on whether

Accepted Answer

A)  the car is in good condition. 
B)  she acts within a reasonable period of time after reaching majority. 
C)  the other party has the right to disaffirm the contract. 
D)  none of these. 
A)  the car is in good condition. 
B)  she acts within a reasonable period of time after reaching majority. 
C)  the other party has the right to disaffirm the contract. 
D)  none of these.

Question 10

Ratification of a contract by a minor may be

Accepted Answer

A)  oral. 
B)  written. 
C)  implied from the minor's actions. 
D)  all of these. 
A)  oral. 
B)  written. 
C)  implied from the minor's actions. 
D)  all of these.

Exam 9: Capacity

Why does the law protect minors in their dealings with adults?

Courts usually rule in favor of individuals who claimed to be intoxicated at the time of entering into a contract.

Which of the following situations would not constitute a ratification of a contract by a minor?

____________________ are those things a person actually needs to live, such as food, clothing, and shelter.

The contracts of mentally ill persons not judged incompetent by a court are ____________________.

The law grants the right of disaffirmance to ____________________ minors, regardless of whether the agreement is fair or unfair to the minor.

Minors are liable for the reasonable value of necessaries

Ordinarily, if an agreement is completely executory, the minor's failure to act after reaching majority is considered an act of ____________________.

Marilyn celebrates her 18th birthday and decides that she no longer wishes to keep a car that she bought when she was 17. Her right to disaffirm will depend on whether

Ratification of a contract by a minor may be

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

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Memorialize Contracts in Writingstatute of Frauds

Transfer of Contract Rights and Duties

The Termination of Contracts: Discharge

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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

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Rights and Duties of Parties

Checks and the Banking System in the Twenty-First Century

Employer-Employee Relationship

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Sole Proprietorships, Partnerships, and Limited Liability Organizations

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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

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