The Minor Who Does Not Disaffirm Within a Reasonable Time

question 38

True/False

The minor who does not disaffirm within a reasonable time after attaining majority is held to have rescinded the contract.

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Definitions:

Obligations

Duties or commitments that an individual or entity is legally or morally bound to fulfill.

Executory Contract

An agreement between parties that has not yet been fully performed or completed by one or more parties.

Executed Contract

An executed contract refers to a legal agreement that has been fully performed, meaning all parties involved have fulfilled their contractual obligations.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, in the absence of an actual agreement between the parties involved.