Contracts Entered into by Mentally Incompetent Persons Can Be Valid

question 42

True/False

Contracts entered into by mentally incompetent persons can be valid.

---

Definitions:

Supply

The total amount of a specific good or service that is available to consumers at a particular price level.

Demand

The amount of a product or service that buyers are prepared and capable of buying at different price levels over a specified time frame.

Consumption

The use of goods and services by households or individuals, which is a primary component of economic activity.

Income

The financial money received, especially on a regular basis, for work, through investments, or from business activities.