What Does the Decision in Bayview Credit Union Ltd

question 144

Multiple Choice

What does the decision in Bayview Credit Union Ltd. v. Daigle illustrate?

• A) A person under the age of majority cannot intend to enter into a contract.
• B) Parents are responsible for contracts made by their children.
• C) Contracts made by children are void.
• D) When a minor enters into a contract, there is no consideration.
• E) Businesspeople are at a risk when dealing with minors as if they were adults.

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Definitions:

Employee Share Purchase Plans

Programs that allow employees to purchase company shares often at a discounted price, as part of their benefits package.

Market Value

The current price at which an asset or service can be bought or sold in an open market.

Direct Payment

The monetary compensation paid directly to employees in the form of wages, salaries, commissions, and bonuses.

Goal-Sharing Plans

Incentive plans that reward employees for reaching specific organizational goals, similar to gain-sharing but often broader in scope.