If a Minor Enters into a Contract with an Adult

question 41

True/False

If a minor enters into a contract with an adult, both parties may disaffirm the contract based upon the minor's lack of majority.

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Definitions:

Debit Card

A payment card that deducts money directly from a consumer's checking account to pay for a purchase.

Hedge Fund

A Hedge Fund is a private investment fund that uses complex strategies in both domestic and international markets with the goal of generating high returns.

Nondepository Financial Institution

Financial entities that do not accept traditional deposits like a bank, but may offer other financial services such as investment, insurance, and retirement plans.

Market Order

Order that instructs the investor’s broker to obtain the best possible price.