A Contract Entered into by a Minor Is Voidable at the Option

question 5

True/False

A contract entered into by a minor is voidable at the option of either of the contracting parties.

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Definitions:

Prime Interest Rate

The interest rate that commercial banks charge their most credit-worthy customers, often used as a benchmark for various interest rates.

Federal Reserve System

The central banking system of the United States, responsible for monetary policy.

Issuing Federal Reserve Notes

The process by which the Federal Reserve, the central banking system of the United States, distributes its official currency.

Money Market Mutual Funds

Investment funds that pool money from investors to purchase short-term, high-quality debt securities as a way to offer returns with minimal risk.