Delia Enters Into,and Fails to Disaffirm Soon After Reaching the Age

question 14

Multiple Choice

Delia enters into,and fails to disaffirm soon after reaching the age of ma?jority,a contract with Electronics Stores,Inc.(ESI) .Later Delia attempts to disaffirm the contract.ESI files a suit against her.The court will most likely consider the contract ratified if it is

• A)executed.
• B)exculpatory.
• C)disaffirmed.
• D)rescinded.

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Definitions:

Money Supply

The complete volume of monetary resources present in an economy at a specific moment, which comprises cash, coins, and the amounts in checking and savings accounts.

Interest Rate

The percentage charged or paid for the use of money, typically expressed as an annual percentage of the principal.

Fed

Short for the Federal Reserve System, it is the central banking system of the United States, responsible for monetary policy.

Reserves

Deposits that banks have received but have not loaned out.