No Special Formalities Are Required for a Minor to Disaffirm

question 18

True/False

No special formalities are required for a minor to disaffirm a contract.

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Definitions:

Goodwill

An intangible asset that arises when a business is purchased for more than the fair value of its net assets, reflecting reputation, brand, etc.

Incremental Value

The additional value created by a specific action or decision, compared to what would have occurred without it.

Shares Outstanding

The total number of shares of a corporation's stock that are currently owned by shareholders, including those held by institutional investors and restricted shares.

Market Price

The latest price point at which an asset or service can be acquired or disposed of.