When a Minor Avoids Contracts, the Minor Always Must Return

question 12

True/False

When a minor avoids contracts, the minor always must return the other contracting parties to their original financial positions.

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Definitions:

Financial Account Deficit

A situation where a country's financial outflows to other countries exceed the inflows from them.

Current Account Surplus

A situation where a country's earnings from exports exceeds its spending on imports, leading to net positive income from foreign transactions.

Balance of Trade

The net difference in value between a country's exports and imports over a certain period.

Balance on Capital Account

A national accounting measure that records all transactions for foreign investments and loans going in and out of a country.