Orin Enters into a Contract with Natalie

question 28

Multiple Choice

Orin enters into a contract with Natalie. Later,Orin is adjudged mentally incompetent and Moseby is appointed Orin's guardian. Lila,Orin's daughter,attempts to void Orin's contract with Natalie on the grounds of Orin's incompetency. The contract is

• A)enforceable if Orin does not attempt to disaffirm it.
• B)enforceable if Natalie is also incompetent.
• C)enforceable if Moseby knew of the contract when he was appointed.
• D)void.

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Definitions:

Maximum Capacity

The highest level of output that a company can sustain to produce in a given period under normal operating conditions.

Dividend

Revenue shared by a company with its shareholders, often as a disbursement of profits.

Financial Planning

The process of creating and managing a strategic plan for a person's or organization's financial affairs.