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

question 43

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.

Identify the significance of digital inclusivity and the challenges faced by communities with limited access to technology.

Comprehend the role of ephemeral content in current social media trends.

Grasp the concept of relationship management and its importance in social media marketing.

Understand the evolutionary nature of social media and the significance of adaptability.

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Definitions:

Listed

Refers to a company or security that is officially registered and available for trading on a public stock exchange.

No-liability

A type of company structure where shareholders are not obliged to contribute additional equity to cover company debts in case of insolvency.

Limited by Guarantee

A form of incorporation used primarily by non-profit organizations where the liability of the members is limited to the amount they agree to contribute if the company is wound up.