A Minor Who Does Not Misrepresent His or Her Age

question 44

True/False

A minor who does not misrepresent his or her age can disaffirm negotiable instruments.

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Definitions:

Creditors

Entities (people or institutions) to whom money is owed by the business for goods or services that have been delivered or used but not yet paid for.

Stockholders

Individuals or entities that own shares in a corporation, giving them ownership interest.

Cash Flow

The entire monetary cycle within and outside a corporation, importantly determining its instant financial stability.

Assets

Economic resources owned by a business or individual that are expected to provide future benefits.