A(n)________ Occurs When a Former Minor Does Not Specifically State

question 44

Multiple Choice

A(n) ________ occurs when a former minor does not specifically state that he affirms a contract entered into as a minor,but takes some action that is consistent with an intent to ratify the contract.

• A)implied ratification
• B)express ratification
• C)express novation
• D)implied novation
• E)disaffirmance

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Definitions:

Goods And Services

The physical products (goods) and intangible offerings (services) that fulfill the needs or wants of consumers.

Just-in-time Scheduling

A strategy used in manufacturing and logistics to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.

Minimizes Inventory

Strategies or practices aimed at keeping the amount of goods stored by a business as low as possible to reduce costs and increase efficiency.

Supply Chain Management

The administration of the movement of products and services encompassing every process that turns raw materials into finished goods.