March 29, 2015

Homework Help: Business law

Posted by Mike on Friday, February 29, 2008 at 5:13pm.

Would you be able to check my 5 answers:

1. The continued possession by a minor of a good after reaching the age of majority will be treated as an implied ratification of the contract by which the minor acquired that good

Answer True

2. If a contract is held to be avoidable due to a party's intoxication, then his or her power to disaffirm the contract will usually be conditioned on full restitution of the purchased items.

Answer false

3. Joe is an adult who bought a car before reaching the age of majority. Joe could not disaffirm his contractual obligations if he:

a. failed to demand that the contract be canceled within a reasonable time after reaching the age of majority.

b. misrepresented his age at the time of the purchase.

c. is married.

d. none of the above.

Answer...I am torn between a and d. The reason for a sound correct except for the "failed to demand" that part sounds wrong

4. The duty of a minor to pay for the reasonable value of necessary goods he or she purchased arises from the contract itself

Answer: true

5. When a state statute imposes a duty of restitution on a minor who disaffirms a contract, the minor must take steps to put the nonbreaching adult party in the position that he or she occupied prior to the formation of the contract

answer: true


Answer this Question

First Name:
School Subject:

Related Questions

English: Showing Possession - In my English composition, I wrote the phrase...
Business Law - A contract cannot involve both and implied warranty of ...
English - 1. When I was young, I was not able to ski. After I took ski/skiing ...
philosophy - Supply the missing premise or conclusion of the ff. enthymeme in ...
philosophy - Supply the missing premise or conclusion of the ff. enthymeme in ...
Business Law - Becky Friedman, while a minor, buys a cassette recorder for $35. ...
check math - Here are my answers. Can you check if I got the right answers? ...
english - emicolons, Colons, Dashes and Parentheses: Recall Exercise 2. Identify...
Law - 1. Which of the following is NOT a typical placement option for the minor ...
Government - If a proposed ammendment violates the constituition, should the ...