In Some Cases, the Courts Have Held That Contracts Made

question 46

Multiple Choice

In some cases, the courts have held that contracts made by minors who are nearly adults or that deal with a business are:

• A) unenforceable contracts.
• B) enforceable contracts.
• C) enforceable by the parents or the guardians of the minors.
• D) not enforceable by the parents or the guardians of the minors.

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Definitions:

Source of Financing

A source of financing is the origin or means through which a business or individual acquires funds to finance operations, investments, or expenditures.

Equity

The value of an asset after deducting all liabilities, often used in the context of ownership in a company.

Return on Equity

A measure of a corporation's profitability relative to stockholders' equity.

Net Income

Net Income is the total earnings of a company after all expenses and taxes have been deducted from revenue.