Minors Are Liable for the Reasonable Value of Necessaries

question 47

Multiple Choice

Minors are liable for the reasonable value of necessaries

• A) actually furnished.
• B) that they agreed to purchase.
• C) that their parents agreed to pay for.
• D) as determined by the merchant who sold the necessaries to the minor.

---

Definitions:

Exchange Rate

The price of one country’s currency in terms of another currency.

Inflation Rate

The tempo at which the universal price levels of goods and services advance, impairing the ability to buy.

Finnish Security

A financial investment like stocks, bonds, or other assets originating from Finland or issued by Finnish entities.

Real Rate

The real rate is the rate of interest an investor expects to receive after allowing for inflation, essentially reflecting the real cost of funds to the borrower and the real yield to the lender.