A Minor Can Disaffirm a Contract at Any Time but Remains

question 54

True/False

A minor can disaffirm a contract at any time but remains legally obligated to perform it.

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Definitions:

Sherman Act

A landmark U.S. legislation passed in 1890 aimed at promoting competition among businesses by prohibiting monopolies and restrictive trade practices.

Standard Oil Case

A landmark U.S. legal case from 1911 that resulted in the breakup of the Standard Oil Company due to its monopolistic practices.

DuPont Cellophane

A thin, transparent sheet made of regenerated cellulose, historically developed and branded by DuPont.

Interlocking Directorates

Interlocking directorates occur when members of a company's board of directors also serve on the boards of other companies, which may lead to conflicts of interest or reduced competition.