A Minor Can Undo a Contract That Has Already Been

question 33

Multiple Choice

A minor can undo a contract that has already been completed by having a court _______ the contract to formally cancel it.

• A)affirm
• B)rescind
• C)disaffirm
• D)ratify

Distinguish between problematic vagueness and ambiguity in communication.

Understand the role and methods of contextualization in resolving ambiguities and enhancing interpretation.

Understand and describe the role and importance of strong critical thinking in various contexts.

Distinguish between interest-based and position-based negotiations and apply interest-based negotiation strategies to real-world scenarios.

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Definitions:

Bond Sinking Fund

A reserved fund established by a corporation or government entity to set aside money over time for the purpose of repaying bonds.

Recorded Interest

The interest that has been accrued or paid on borrowed funds or investments, documented in the financial records.

Callable Bonds

Bonds that can be redeemed by the issuer before their maturity date at a specified price.

Bond Sinking Fund

A fund established by a debtor to repay or redeem bond debt before its maturity, ensuring financial security for bondholders.