Which of the Following Would Most Probably Be Considered a Valid

question 70

Multiple Choice

Which of the following would most probably be considered a valid offer?

• A) "Would you like to buy this?"
• B) "I'd give $50 for a cold glass of water."
• C) "Special sale on DVRs today - $200 each."
• D) "$100 reward for return of lost white-gold,men's wedding band inscribed with initials 'TEA' to Tony Adams,350 Main Street,Peoria."

Understand the concept of emancipation and its impact on a minor’s capacity to contract.

Comprehend the role of necessaries in contracts with minors.

Grasp the legal age of majority for contracting and its exceptions.

Understand the obligations and limitations associated with contracts made by minors.

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Definitions:

Promissory Estoppel

A legal principle that prevents a person from going back on a promise, even if it was not formally made as a contract, if it was reasonable to rely on that promise and doing so caused harm.

Refund

A repayment to someone of money they have previously paid.

Legal Obligation

A duty enforced by law whereby an individual or entity is required to perform or refrain from performing a certain action.

Consideration

In legal terms, it's something of value exchanged between parties in a contract, making the agreement binding.