When Both Parties to a Contract Are Minors,neither of Them

question 15

True/False

When both parties to a contract are minors,neither of them may disaf?firm the contract.

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Definitions:

Liabilities

Financial obligations or debts owed by a business to creditors, which must be paid back at some point in the future.

Net Asset Value

The total value of a fund's assets minus its liabilities, often used in context with mutual funds and represents the per-share/unit price of the fund.

Accounts Payable

Liabilities of a firm representing money owed to creditors for goods and services purchased on credit.

Fund Shares Outstanding

The total number of shares issued and currently held by investors, including restricted shares owned by the company’s officers and insiders but excluding any repurchased shares.