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Essentials of Business Law Study Set 3
Quiz 11: Competent Parties
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Question 21
Multiple Choice
If a minor has paid more than he or she should have been charged, then he or she can:
Question 22
Multiple Choice
In most cases, whether the contract has not yet been performed (an executory contract) or has been fully performed (an executed contract) , the minor may ________ the contract.
Question 23
Multiple Choice
With regard to minors' contracts, silence or inaction is the basis for a voidable contract becoming a valid and enforceable contract through:
Question 24
Multiple Choice
In some cases, the courts have held that contracts made by minors who are nearly adults or that deal with a business are:
Question 25
Multiple Choice
If a reasonable period of time passes after a minor reaches legal age and he or she has said nothing about disaffirming the contract, then in the eyes of the law it is considered as:
Question 26
Multiple Choice
In some cases, the courts have held that contracts made by minors who are nearly adults or that deal with a business are:
Question 27
Multiple Choice
A person who has not yet reached the age of majority is considered a:
Question 28
Multiple Choice
Disaffirmance may be done by the minor:
Question 29
Multiple Choice
Once a minor marries, or voluntarily separates from parents or guardians, he or she assumes adult responsibilities and is considered to have:
Question 30
Multiple Choice
Once the minor reaches the legal age of majority, and if he or she agrees to the terms of the contract, then the contract is said to be:
Question 31
Multiple Choice
The nature of a contract for necessaries must bear some relationship to a minor's individual needs and to his or her:
Question 32
Multiple Choice
In the case of minors' contracts, silence or inaction is the basis for a(n) ________ contract becoming a valid, enforceable contract through ratification.
Question 33
Multiple Choice
If a minor enters into a contract relating to food, shelter, clothing, ?employment, and medical care, then such a contract is known as a:
Question 34
Multiple Choice
As per the _________, a person attains the age of majority on the anniversary date of his or her birth.
Question 35
Multiple Choice
Most contracts made by persons who have not reached the age of majority are:
Question 36
Multiple Choice
The status of a contract between a minor and an adult is generally:
Question 37
Multiple Choice
Once a minor reaches the age of majority, in order to make the contracts entered into by the minor enforceable, it must be:
Question 38
Multiple Choice
Disaffirming a contract would amount to:
Question 39
Multiple Choice
Once a minor reaches the legal age of majority, if he or she disagrees with the terms of a contract and thereafter expresses his or her unwillingness to be bound by the contract within a reasonable time, then the contract is said to be: