In Which of the Following Situations Is a Contract Considered

question 13

Multiple Choice

In which of the following situations is a contract considered voidable?

• A) When the contract is for necessaries
• B) When the minor lied about his or her age
• C) When the contract is ratified on reaching majority
• D) When there is a lack of capacity because of minority

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Definitions:

Modified Internal Rate of Return (MIRR)

A financial metric that accounts for the cost of capital and reinvestment of cash flows to provide a better measure of a project's profitability than the traditional IRR.

Net Present Value (NPV)

The difference between the present value of cash inflows and the present value of cash outflows over a period of time.

Business Executives

Business Executives are individuals holding senior positions within a company, responsible for strategic decisions, overseeing operations, and steering the organization towards its goals.

Discount Rate

In finance, it's the interest rate used to discount future cash flows back to their present value, often reflecting the cost of capital or rate of return.