Minors Can Disaffirm Contracts for Necessaries, but They Will Still

question 25

True/False

Minors can disaffirm contracts for necessaries, but they will still be held liable for the reasonable value of the necessary.

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Definitions:

Yield

The income return on an investment, such as the interest or dividends received, expressed as a percentage of the investment's cost or current market value.

Minimum Number

The lowest quantity or amount that is allowed, required, or desired.

Coupon Rate

The percentage rate of interest a bond yields annually, based on its nominal value.

Yield To Maturity

The total return anticipated on a bond if it is held until the due date, considering all interest payments and the capital gain or loss.