Ordinarily, a Minor Can Disaffirm a Contract Even Though She

question 25

True/False

Ordinarily, a minor can disaffirm a contract even though she has misrepresented her age.

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Definitions:

Cost Recovery

The process of recovering the cost of an investment, expense or other outlay over time.

Statement of Changes

The Statement of Changes outlines the alterations in equity for a specified period, showing how net income and other changes directly affect a company's financial position.

Net Assets

The difference between total assets and total liabilities, representing the owners' or shareholders' equity in a company.

CFA Institute

A global association of investment professionals that offers education, certification, and ethical and professional standards.