Randy,as Two Older Brothers Before Him,moved Out of the House

question 34

Multiple Choice

Randy,as two older brothers before him,moved out of the house when he was quite young.When he was 17,he and his older brother,Ted,wanted to buy a condominium in Nelson.They both had jobs and the bank was willing to lend them money and take a mortgage on the condo.Which of the following is a correct statement about the law governing this situation?

• A) These contracts would be binding on Randy only if he disclosed the fact that he was a minor to the other parties.
• B) All contracts with infants are void.
• C) The mortgage agreement would be binding on Randy as an adult if he continued to make payments after reaching the age of majority.
• D) A mortgage granted by Randy to the bank is effective until a court orders otherwise.
• E) All infants' contracts are enforceable as soon as they become adults.

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Definitions:

Just-In-Time (JIT) Scheduling

Minimises inventory by routing materials to workstations ‘just in time’ to be used.

Timely Basis

Performing or completing tasks within an appropriate or specified period to achieve desired outcomes.

Workstation

A specific area equipped with the necessary tools and technology for an individual to perform their job tasks.

Supply Chain Management

The management of the flow of goods and services, involving the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption.