The Case of in Re the Score Board, Inc

question 12

Multiple Choice

The case of In re The Score Board, Inc. involved the issue of:

• A) a minor's liability for misrepresentation of age.
• B) whether an incompetent person's contracts are void or voidable.
• C) ratification of a contract upon attaining majority.
• D) liability for necessaries.

---

Definitions:

Partial Goodwill Method

An accounting technique used in business combinations where goodwill is only recognized for the owners' share in the acquired party, not the non-controlling interest (NCI).

Ownership Interest

A stake or share in a company or property, representing the holder's right to its assets and profits.

Regulatory Requirements

Rules and guidelines imposed by governing bodies that companies must follow to be compliant in their operational, financial, or ethical practices.