In a Contract Made by a Minor

question 30

Multiple Choice

In a contract made by a minor:

• A)adult parties to the contract can disaffirm.
• B)the minor has the right to disaffirm.
• C)his/her siblings who are also minors can disaffirm the contract on his/her behalf.
• D)the minor can disaffirm the contract anytime even after attaining majority.

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Definitions:

Base Period

A specific time period used as a reference point to measure changes in economic or financial indices over time.

Trend Analysis

The practice of collecting information and attempting to spot a pattern, often used in financial and market analysis.

Horizontal Analysis

A financial analysis technique that compares historical financial data across a series of periods to identify trends and changes.

Financial Statement Item

An individual line item or component that appears in a financial statement such as the balance sheet or income statement.