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Exam 11: Competent Parties

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Question 1

Multiple Choice

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The nature of a contract for necessaries must bear some relationship to a minor's individual needs and to his or her:

A) legal understanding.
B) financial status.
C) professional status.
D) moral behavior.

Correct Answer

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B

Question 2

Multiple Choice

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Most contracts made by persons who have not reached the age of majority are:

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

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Question 3

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Persons of unsound mind are considered emancipated.

In some cases,the courts have held that contracts made by minors who are nearly adults or that deal with a business are:

Even if a person makes a contract while so intoxicated by alcohol or affected by drug use that he or she is unable to understand the nature and effect of the contract,it is still considered a valid contract.

As per the _________,a person attains the age of majority on the anniversary date of his or her birth.

The legal age of majority varies from state to state.

A minor can be held liable if he or she makes damaging statements in writing for the act of:

Minors are always protected against their own wrongdoing.

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:

In some cases,the courts have held that contracts made by minors who are nearly adults or that deal with a business are:

Minors,insane persons,and mentally impaired persons are usually considered incompetent and lacking in:

According to the interesting coming of age rule in common law,a person who was born on and celebrates his or her 18^th birthday on April 26 in a state where the age of majority is 18,becomes an adult at:

If a minor enters into a contract relating to food,shelter,clothing,?employment,and medical care,then such a contract is known as a:

Disaffirmance may be implied by the acts of the person who has reached legal age and wishes to disaffirm.

Disaffirming a contract would amount to:

The law that protects minors from their contractual commitments intends to deny them the opportunity to enter into contracts for necessaries that are not provided by their parents or a guardian.

The law regards actions on the part of minors that result in emancipation as abandonment.

Persons of unsound mind are considered incompetent to make binding contracts because they are assumed to lack the mental capacity to safeguard:

Emancipated minors are generally liable for necessaries purchased for themselves or supplied to a spouse,just as if they were adults.