A Minor,unable to Live at Home,contracts to Rent an Apartment

question 86

Multiple Choice

A minor,unable to live at home,contracts to rent an apartment for one year at $600 per month.After living there for three months,he disaffirms the contract.The reasonable value of that apartment was only $500 per month.Assuming no rent has been paid,the minor must pay which of the following?

• A) Nothing; the contract has been disaffirmed.
• B) $1,800; the contract rate for three months.
• C) $1,500; the reasonable value for three months.
• D) $7,200; the contract rate for one year.
• E) $6,000; the reasonable rate for one year.

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Definitions:

Subsidization

Financial assistance granted by the government or an organization to support an economic sector, business, or consumer, making the goods or services more affordable.

Capitalist States

Countries where economic systems are based on private ownership and the free market determines allocation of resources.

Authoritarian States

Nations where political power is concentrated in a single authority, with limited personal freedoms.

Individual Wealth

The total value of all assets owned by a single person, minus any debts.