Contracts Created by Those with Partial Capacity Are

question 409

Multiple Choice

Contracts created by those with partial capacity are:

• A) not voidable
• B) voidable
• C) executory
• D) exemplary
• E) illegal

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Definitions:

Trust Companies

Financial institutions that act as agents for individuals or businesses to manage, invest, and safeguard assets.

Corporate Income Tax

Taxes imposed on the net income of corporations.

Proprietorship

A business owned and operated by a single individual, where there is no legal distinction between the owner and the business entity.

Interest Rates

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.