Which of the Following Is Incorrect with Respect to the Law

question 29

Multiple Choice

Which of the following is incorrect with respect to the law of incapacity?

• A) To escape a contract on the basis of insanity, the insane person need only show that he did not know what he was doing at the time the contract was formed.
• B) Even after the passage of the Charter of Rights and Freedoms, some contracts entered into with status Indians cannot be enforced.
• C) Married women are no longer incapacitated.
• D) Some Crown corporations have limited capacity to contract.
• E) Trade unions may have limited capacity to contract.

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Definitions:

Market Value

The current price at which an asset or service can be bought or sold in the open market.

Salvage Value

The estimated value that an asset will realize upon its sale at the end of its useful life, after deducting the cost of removal or disposal.

Net Income

The total profit of a company after accounting for all expenses and income, indicating its financial performance over a specific period.

Incremental Cost

The additional cost that a company incurs when producing one additional unit of product or serving one additional customer.