Fay, Age 17, Ordered a Pair of Skis on the Installment

question 2

Multiple Choice

Fay, age 17, ordered a pair of skis on the installment plan. She paid $20 every month until she turned 18, the age of majority. The next day, she sold the skis to Sharon and disaffirmed the contract. Fay is:

• A) still liable since she had to disaffirm before her 18th birthday.
• B) still liable because selling the skis amounted to a ratification.
• C) still liable because she used the skis.
• D) not liable because skis are not necessaries.

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Definitions:

Learning Curves

A graphical representation of how an increase in learning comes from greater experience, leading to reduced costs and increased productivity over time.

Personnel Changes

Alterations in the composition or structure of a workforce, including hiring, firing, promotions, and transfers.

Learning Curve Strategy

Learning curve strategy involves leveraging the concept that the efficiency of performing a task tends to increase with increasing repetitions due to learning and experience gains.

Employee Training

The process of enhancing the skills, knowledge, and competencies of employees through organized learning activities to improve individual and organizational performance.