Contracts with People Who Have Been Declared Incompetent by the Courts

question 39

True/False

Contracts with people who have been declared incompetent by the courts are void even if the sane people who contracted with them do not know that they had been declared insane by the courts.

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Definitions:

Households Receive

Income earned by individuals or groups through wages, investments, and other sources, often used to describe the inflow of funds to a family unit.

Economic Disruption Events

Occurrences that significantly interrupt the normal course of economic activity, potentially leading to widespread financial impacts.

Price System

A mechanism through which prices are determined for goods and services in an economy, guiding and coordinating economic actions by conveying information about relative market values and scarce resources.

Capital Source

The origins of the funds or assets that are invested in a business or project.