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Brook Wampole Mrs. Cole Law 2013-14Final Review: Chapter 9 Brook Wampole Mrs. Cole Law
True or False Ratification can never occur before the age of majority to contract.
Emancipated minors may lose the power to disaffirm their contracts.
In most jurisdictions, even if a minor cannot return everything that was received under a contract, the minor will receive back everything she or he put into the bargain.
Minors are not usually liable for their torts.
As soon as a person reaches the age of majority the legal power to disaffirm a contract is immediately ended.
Multiple Choice Parties who may, because of their status, have the right to disaffirm a contract include A. minors B. the mentally incapacitated C. the intoxicated D. all of these
D all of these
Which of the following would most likely not be classified as a necessary?A. an apartment B. clothes C. cosmetics D. food
Contracts of a minor that cannot be disaffirmed includeA. court-approved contracts B. enlistment in the armed services C. educational loans D. all of these
D. all of these
Which of the following is not evidence of informal emancipation?A. a minor marries B. a minor gives birth C. a minor buys a car D. a minor moves out of the family home
C. a minor buys a car
All contracts by a party held to be permanently insane by a court areA. valid but must be ratified by the party’s guardian B. voidable C. void D. reviewed by a court
Completion Grant, a 16-year old high school student, quit school and took a full-time job. His actions are evidence of informal _______.
Latrice is only 13 years old, but once she signs a court-approved contract she cannot ________ it.
Food, clothing and shelter are all classified as _________ for those who lack capacity.
When a contract for necessaries is disaffirmed by a party lacking capacity, they still must pay a(n) _________ amount for those necessaries.
Minors can disaffirm their contracts during their minority and for a reasonable period of time after attaining their ________.
By Kaitlyn Sutrick, Will Ahsmann, Josh Larson, Steven Geis, Zach Edwards.
© 2004 West Legal Studies in Business A Division of Thomson Learning 1 Chapter 12 Contracts: Capacity and Legality Chapter 12 Contracts: Capacity and Legality.
How to identify others, besides minors, who can rescind contracts
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© 2010 Pearson Education, Inc., publishing as Prentice-Hall 1 CAPACITY AND LEGALITY © 2010 Pearson Education, Inc., publishing as Prentice-Hall CHAPTER.
McGraw-Hill ©2010 The McGraw-Hill Companies, Inc. All rights reserved.
Chapter 5 Elements of a Contract
Essentials Of Business Law Chapter 9 Competent Parties McGraw-Hill/Irwin Copyright © 2007 The McGraw-Hill Companies, Inc. All rights reserved.
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