A Ratified Contract Can Be Disaffirmed Even After the Minor

question 50

True/False

A ratified contract can be disaffirmed even after the minor reaches the age of majority.

Understand how regulatory environments influence international business opportunities.

Comprehend the importance of sustainable and responsible business practices.

Understand the importance of data privacy in the context of global companies.

Evaluate the ethical implications of sharing personal Internet activities with third parties.

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Definitions:

Intangible Assets

Non-physical assets owned by a business that can provide economic benefit, such as patents, trademarks, and goodwill.

Noncompetitive Clause

A contract agreement that restricts one party from entering into or starting a similar profession or trade in competition against another party.

Due Disclosure

The legal and ethical requirement to provide honest and complete information relevant to a business transaction or financial statement.

Good Cause Clause

A provision in contracts that allows for termination of the agreement under specified conditions that are deemed to be legitimate or of "good cause."