Which Statement Applies in the Dispute Between Rose and Sal's

question 16

Multiple Choice

Which statement applies in the dispute between Rose and Sal's Car Savings,considering that she waited to turn 18 before attempting to disaffirm the contract?

• A)An implied ratification occurs when parents agree to accept the debt entered into by a minor.
• B)If Rose caused any damage whatsoever to the car,she was said to have impliedly ratified the contract.
• C)Rose was required to expressly ratify the contract before she could be bound to it.
• D)Rose was required to expressly ratify the contract before she could be bound to it so long as no damage was done;but if she did any damage to the car,as a matter of law,she is said to have impliedly ratified it.
• E)So long as,after reaching the age of majority,Rose did not state orally or in writing that she intended to be bound by the contract,then she did not commit an express ratification.

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Definitions:

Bankruptcy

A condition that arises when a person commits an act of bankruptcy under the Bankruptcy and Insolvency Act.

Assignment Of Book Debts

The transfer of the right to collect debts owed to a business, typically to secure a loan or as part of a financial arrangement.

Crystallization

The process in which a solid forms, where atoms or molecules are highly structured in a pattern extending in all three spatial dimensions.

Corporate Financing

The process of providing funds for business activities, making investments, and managing financial risks.