Why Are Financial Institutions Reluctant to Open Accounts for Those

question 99

Multiple Choice

Why are financial institutions reluctant to open accounts for those who are considered minors?

• A) A minor is generally exempt from binding clauses in contracts, only.
• B) Anyone who has yet to reach the age of majority (18 years in most cases) can change his or her mind on a transaction or trade after the deal is done, only.
• C) Both a minor is generally exempt from binding clauses in contracts and anyone who has yet to reach the age of majority (18 years in most cases) can change his or her mind on a transaction or trade after the deal is done.
• D) A minor doesn't have an earned income.