Which of the Following Is Not True Regarding the Contracts

question 68

Multiple Choice

Which of the following is not true regarding the contracts of incompetent persons?

• A) An incompetent person is liable for necessaries.
• B) Unlike a minor,an incompetent person can never ratify a contract.
• C) To avoid a contract,a person need not be permanently incompetent.
• D) A person is competent unless he is unable to understand the nature and effect of his act.

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Definitions:

Price Of Corn

The cost at which corn is bought or sold, subject to fluctuations based on agricultural trends and economic conditions.

Soybeans

A species of legume native to East Asia, widely cultivated for its edible beans which serve as a significant source of protein and oil.

Dividend

A portion of a company's earnings distributed to its shareholders, usually in cash or additional stock.

Stock

Financial instruments that represent ownership shares in a corporation, giving holders a claim on the company's profits.