A Contract with a Minor Which Is Enforceable and Binding

question 34

Multiple Choice

A contract with a minor which is enforceable and binding on both parties is called:

• A) A voidable contract.
• B) A void contract.
• C) A good contract.
• D) A valid contract.

Differentiate between alternative dispute resolution methods and traditional court litigation.

Explain the concept of diversity of citizenship and its implications for federal court jurisdiction.

Understand the unique characteristics and jurisdictions of federal courts, including specialized courts.

Identify and analyze the legal concepts related to class actions and their outcomes.

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Definitions:

Efficient Markets Hypothesis

A theory stating that asset prices fully reflect all available information, making it impossible to consistently achieve higher returns than the average market return.

Random Walk

The path of a variable whose changes are impossible to predict.

Marginal Utility

The additional satisfaction or usefulness gained from consuming one more unit of a good or service.

Risk-averse

Describes individuals or entities that prefer to avoid risk and would rather choose a certain outcome over a gamble with a potentially higher, but uncertain, return.