Ordinarily, Minors Can Disaffirm Contracts Even When They Have Misrepresented

question 67

True/False

Ordinarily, minors can disaffirm contracts even when they have misrepresented their age.​

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Definitions:

Probate Laws

The body of law that governs the process through which a deceased person’s estate is properly distributed to heirs and designated beneficiaries, and any debt owed to creditors is paid off.

Executor

An individual appointed to administer the estate of a deceased person, managing the distribution of assets according to the will.

Minor's Section 2503(c) Trust

A trust set up for the benefit of a minor according to Section 2503(c) of the Internal Revenue Code, allowing gifts to be made to the trust without incurring gift taxes.