Which of the Following Types of Contracts Refers to Those

question 29

Multiple Choice

Which of the following types of contracts refers to those entered by minors who have the option,under the law,of either disaffirming or fulfilling most contracts?

• A)Unenforceable contracts
• B)Void contracts
• C)Unconscionable contracts
• D)Voidable contracts

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Definitions:

Limited Life

Refers to the finite duration for which an entity, such as a corporation or partnership, is established to operate.

Double Taxation

A tax principle referring to income taxes paid twice on the same source of income, often seen in corporate dividends taxed at both the corporate and personal levels.

Stock Exchange

A marketplace where securities, like stocks and bonds, are bought and sold by investors, brokers, and traders.

Sole Proprietorship

A type of enterprise that is owned and run by one individual and in which there is no legal distinction between the owner and the business entity.