Which of the Following Is Not True Regarding the Contracts

question 63

Multiple Choice

Which of the following is not true regarding the contracts of intoxicated persons?

• A) If an intoxicated person is unable to understand the nature and consequences of his act,then the contract is voidable.
• B) The effect of intoxication is generally the same as that given to contracts that are voidable because of incompetency.
• C) Slight intoxication will destroy one's contractual capacity.
• D) Contracts made while a person is too intoxicated to act in a reasonable manner may be ratified when the intoxicated person regains his capacity.

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Definitions:

Taxpayer Contribution Amount

The sum of money contributed by a taxpayer towards taxes, retirement accounts, or other eligible investments, potentially affecting tax calculations.

AGI

Adjusted Gross Income is gross income minus adjustments to income, serving as a key figure in determining taxable income and eligibility for certain tax benefits.

Qualifying Child

A dependent child who meets specific IRS criteria concerning age, relationship, residency, and support, allowing the taxpayer to claim certain tax benefits.

EIC

The Earned Income Credit is a refundable tax credit designed for individuals and families with low to moderate income who work, especially those with children.