Neil, a Minor, Attempts to Return to Its Former Owner

question 40

Multiple Choice

Neil, a minor, attempts to return to its former owner, a set of skis that he recently bought, used, and wrecked, in a state in which a duty of restitution is imposed. Neil

• A) ​can return the skis "as is" and avoid further liability.
• B) ​is not required to return the skis due to his or her minority.
• C) ​must return the skis and pay for the damage.
• D) ​cannot return the skis unless they can be fully restored.

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Definitions:

Par Value

Par value is the nominal or face value of a bond, share, or other financial instrument, set at the time of issue.

Dividend Growth Model

A method for valuing a stock by using predicted dividends and discounting them back to their present value.

Dividend Growth Rate

The annualized percentage rate of growth of a company's dividend payments, indicating how quickly dividends are increasing over time.

Financial Loss

A decrease in monetary value, often related to business operations, investments, or unforeseen expenses.