The Main Purpose for Making Contracts Involving Minors Voidable at the Minor's

question 53

Multiple Choice

The main purpose for making contracts involving minors voidable at the minor's option is:

• A) to protect the minor from unscrupulous adults
• B) to reduce the amount of litigation in the courts
• C) to support the policy of not enforcing gift promises.
• D) to punish adults for entering into contracts with minors
• E) to prevent minors from entering into contracts

---

Definitions:

Opportunity Cost

The loss of potential gain from other alternatives when one particular option is chosen.

Tax Cut

A reduction in the amount of taxes that individuals or corporations owe to the government.

Market Economy

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, with little government intervention.

Market Equilibrium

A situation in which market supply equals market demand, so there is no incentive for price changes unless external conditions change.