Once a Contract Made by a Minor Has Been Effectively

question 47

True/False

Once a contract made by a minor has been effectively ratified,it cannot be disaffirmed.

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Definitions:

Optimal Consumption

The point at which an individual's utility from consuming goods and services is maximized, given their budget constraints.

Budget Constraint

Denotes the limit on the consumption bundles that a consumer can afford given their income and the prices of goods.

Listening to Jazz

The activity of actively engaging in the auditory experience provided by jazz music, a genre known for its complex harmonies and improvisational elements.

Living Arrangements

The setup or configuration of housing and the people with whom one resides, which can vary widely from living alone to sharing a dwelling with others.