In Order for a Minor to Be Bound by a Contract

question 60

Multiple Choice

In order for a minor to be bound by a contract with an adult after he becomes an adult himself, he must ________.

• A)disaffirm the contract before reaching the age of majority
• B)complete his or her contractual duties of restitution and restoration
• C)ratify the contract after reaching the age of majority
• D)place the adult in status quo till reaching the age of maturity

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Definitions:

Facility Expenses

Costs associated with maintaining and operating a physical location or building, such as rent, utilities, and maintenance.

Spending Variance

The difference between the actual amount spent and the budgeted amount for a specific period or category.

Travel Expenses

Costs associated with traveling for the purpose of conducting business-related activities, including transportation, lodging, and meals.

Spending Variance

The difference between the actual amount spent and the budgeted or standard amount expected to be spent.