Which of the Following Is True of Contracts of Minors

question 8

Multiple Choice

Which of the following is true of contracts of minors?

• A) A contract between two minors gives the person of higher age the right to avoid it.
• B) An adult is bound by a contract if a minor wishes to treat the contract as valid.
• C) An adult can avoid a contract on the ground that the minor might avoid it.
• D) A minor does not have the power to avoid or repudiate any contract.

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Definitions:

Chapter 13 Provisions

Regulations under Chapter 13 of the U.S. Bankruptcy Code allowing individuals with a regular income to create a plan to repay all or part of their debts.

Self-Employed People

Individuals who work for themselves, either by owning their own business or working as independent contractors, rather than being employed by others.

Corporations

Legal entities recognized by law that are distinct from their owners, with the ability to own assets, incur liabilities, and enter into contracts.

Securities Fraud

Illegal practices involving the deception of investors or the manipulation of financial markets.