As a General Rule, Minors May Disaffirm Their Contracts at Any

question 47

True/False

As a general rule, minors may disaffirm their contracts at any time during their minority and for up to one year after attaining majority.

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Definitions:

Liabilities

Financial obligations or debts owed by a person or company to another entity, which must be settled over time.

Franchise Rule

is a regulation designed to provide prospective franchisees with the necessary information to make informed decisions about their investments in franchise operations.

Potential Earnings Figures

Estimates or projections of the amount of money that could be earned in the future, often used in the context of investments or employment.

Prospective Franchisees

Individuals or entities that are considering entering into a franchise agreement to operate a branded business.