A House Is $100,000,a Computer Is $2,000,and a Car Is

question 98

Multiple Choice

A house is $100,000,a computer is $2,000,and a car is $20,000.In this context,money is principally functioning as a

• A) unit of account.
• B) store of value.
• C) medium of exchange.
• D) none of the above

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Definitions:

Adjudicated Insane

A legal status conferred upon an individual who has been formally deemed by a court to lack the mental capacity to manage their own affairs due to mental illness.

Void

A term referring to a contract or legal agreement that is invalid or without legal effect from its inception.

Disaffirmance

In contract law, the right of a party to renounce a contract to avoid legal obligations, typically used in cases involving minors or instances of fraud.

Majority

The age at which a person is considered an adult and has the legal rights and responsibilities of an adult, or a more than half portion of a group.