What Is Meant by the Term Odious Debt

question 28

Short Answer

What is meant by the term Odious Debt"?

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Definitions:

Disaffirmance

The legal act of rejecting or voiding a contract or agreement, especially by one party who was a minor at the time of entering the contract.

Age of Majority

The legally recognized age at which an individual is considered an adult and can engage in civil activities without parental consent.

Legally Binding

Refers to agreements or promises that have legal force and can be enforced by law.

Capacity

The legal ability to enter into a binding contract.