Alice Lost Her EFTS Card at the Park and Forgot

question 22

Multiple Choice

Alice lost her EFTS card at the park and forgot to report it until her monthly statement came 26 days later.She found that $600 had been withdrawn from her bank account.Assuming she notifies the bank at this point,the most for which Alice will be legally liable is

• A)$0.
• B)$25.
• C)$50.
• D)$500.
• E)$600.

Understand the legal criteria for the formation of contracts.

Recognize the impact of minority (age) on contract enforceability.

Identify circumstances under which intoxication affects contractual capacity and liability.

Distinguish between necessary and non-necessary items in contracts with minors.

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Definitions:

Rational Beings

Individuals who are capable of making decisions based on reason and logic rather than on emotion alone.

Rewarded Behaviors

Actions that are encouraged or reinforced through positive outcomes or rewards.

Self-actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Hierarchical Organization

A system or organization where entities are ranked one above the other according to authority or status.