Lucy,a Minor,disaffirms a Contract for Necessaries Without Returning the Goods

question 12

Multiple Choice

Lucy,a minor,disaffirms a contract for necessaries without returning the goods.To Manny's Food Mart,the seller,Lucy is required to pay

• A)nothing.
• B)the reasonable value of the goods.
• C)the sales price of the goods.
• D)the ultimate worth of the goods.

---

Definitions:

Gains Or Losses

The financial results from selling assets or incurring liabilities, measured as the difference between the sale proceeds and the value recorded in accounts.

Property, Plant

Long-term tangible assets, such as land, buildings, and equipment, used in the operation of a business to generate income.

Continuing Operations

The parts of a business that are expected to continue operating in the future, as opposed to operations that have been discontinued or sold.

Selected Unrealized Gains

Gains on investments that have increased in value but have not yet been sold or realized.