A Minor's Right to Disaffirm a Contract Terminates Ninety Days

question 11

True/False

A minor's right to disaffirm a contract terminates ninety days after the contract's date. 

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Definitions:

Debit Column

The left side of a ledger account where increases in assets and expenses, or decreases in liabilities, equity, and revenues are recorded.

Classified Balance Sheet

A balance sheet that categorizes assets as current assets or plant and equipment and groups liabilities as current or long-term liabilities.

Creditors

Individuals or institutions that lend money or extend credit to others.

Information

Information refers to data that is processed, organized, and structured or presented in a given context to make it meaningful and useful.