Which of the Following Is Not a Type of Contract

question 70

Multiple Choice

Which of the following is not a type of contract generally recognised as enforceable against a minor?

• A)A contract for necessities.
• B)A contract for goods or services of the type suitable for a person under the age of 18 years.
• C)A beneficial contract of service.
• D)A contract where the minor acquires a continuing interest or undertakes a continuing obligation.

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Definitions:

June 550 Call

An options contract granting the holder the right, but not the obligation, to buy an underlying asset at a predetermined price of 550 units, expiring in June.

Gold

A precious metal that is used as an investment, a store of value, and in jewelry, due to its scarcity, durability, and aesthetic appeal.

Credit Default Swap

A financial derivative allowing an investor to "swap" or offset their credit risk with that of another party.

Financial Risk

Financial risk encompasses the possible loss of financial assets, liabilities, or financial failure due to variables like currency fluctuations, interest rate changes, and funding challenges.