When a Minor Falsely Advises the Other Party That He

question 10

Multiple Choice

When a minor falsely advises the other party that he is of the age of majority and based upon that misrepresentation, the other party enters into a contract with the minor:

• A) the minor has lost his right to disaffirm the contract because of the misrepresentation if the adult party in good faith reasonably relied on the misrepresentation.
• B) the adult party can recover damages from the minor in tort.
• C) the minor is required to restore the other party to the position occupied before the making of the contract.
• D) There is no uniform rule. States differ, and depending upon the state, any of the above could be correct.

Recognize various exceptions to the general rules of contract assignment.

Understand the impact and enforcement of antiassignment clauses in contracts.

Identify the validity and implications of contract assignments despite the presence of antiassignment clauses.

Differentiate between assignment and delegation of contractual rights and duties.

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Definitions:

Income Taxes Payable

The amount of income taxes a company owes to the government that has not yet been paid.

Operating Activities

Transactions and events that affect the net income of a company, involving its primary operations.

Free Cash Flow

The amount of cash generated by a company after accounting for capital expenditures, essential for growth and expansion.

Operating Cash Flow

A measure of the cash generated by a company's normal business operations.