Question 1

Minors are generally held liable on a quasi contract basis for the reasonable value of necessaries furnished to them.

Accepted Answer

A) True 
 B)False

Question 2

Why are minors held liable on a quasi contract basis for the reasonable value of necessaries furnished to them?

Accepted Answer

Minors are generally held liable on a qu...

Question 3

In most states,the agreements of people who have been adjudicated insane are _____.

Accepted Answer

A)   valid
B)   void
C)   irreversible
D)   enforceable

Question 4

_____ are generally defined as those things that are essential to a minor's continued existence and general welfare.

Accepted Answer

A)   Considerations
B)   Emancipations
C)   Forbearances
D)   Necessaries

Question 5

People who regain their mental capacity:

Accepted Answer

A)   cannot ratify their contracts if the contract involves real estate.
B)   can ratify their contracts.
C)   can ratify their contracts only if a guardian signs up along with the person.
D)   cannot ratify their contracts.

Question 6

Jessica,a minor,rented an apartment in Greenwich Village for $500 a month.She signed a one-year lease.After living there for three months,Jessica decided to move to another apartment complex.She is liable for the reasonable value of three months' rent at Greenwich Village,but not for the remaining nine months' rent.This is in accordance with the _____ provision of capacity to contract by minors.

Accepted Answer

A)   disaffirmation
B)   necessaries
C)   emancipation
D)   adjudication

Question 7

If a person is adjudicated insane,his or her personal representative cannot ratify the contract.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following terms is used to describe the termination of a parent's right to receive services and wages from a child and to generally control him?

Accepted Answer

A)   Emancipation
B)   Disaffirmation
C)   Ratification
D)   Incapacity

Question 9

Which of the following is true of emancipation?

Accepted Answer

A)   Emancipation is used to describe the termination of a parent's right to receive services and wages from a child and to generally control him.
B)   Emancipation occurs when a minor does not disaffirm within a reasonable time after attaining majority and thereafter loses the right to disaffirm.
C)   Emancipation occurs when a minor moves away from home and the parents object to his or her actions.
D)   Emancipation always gives a minor the capacity to contract.

Question 10

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

Accepted Answer

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

Question 11

A person lacking mental capacity must return the other party to status quo when:

Accepted Answer

A)   the other party becomes aware of the person's lack of mental capacity.
B)   the person lacking mental capacity has already enjoyed the product of the agreement.
C)   the other party was unaware of the person's lack of mental capacity.
D)   the person lacking mental capacity has passed on the product of the agreement to someone else.

Question 12

With respect to property,under the common law,minors:

Accepted Answer

A)   are entitled to the return of their property given as consideration only upon attaining majority.
B)   are entitled to the return of their property given as consideration even if they have been ratified.
C)   are entitled to the return of their property given as consideration, even if that property is possessed by a third party at the time of disaffirmance.
D)   are entitled to the return of their property given as consideration, except in cases where the property is possessed by a third party.

Question 13

According to the Uniform Commercial Code,minors whose contracts involve goods can no longer reclaim those goods from innocent third parties.

Accepted Answer

A) True 
 B)False

Question 14

Minors are liable for the value of necessaries they have purchased under a contract but have not received at the time they disaffirm.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements is true of contract ratification?

Accepted Answer

A)   Minors who have lied about their age can ratify their contracts.
B)   A contract is voidable if it is ratified on reaching majority.
C)   For a person adjudicated insane, his or her personal representatives cannot ratify the contract.
D)   People who regain their mental capacity can ratify their contracts.

Question 16

Minors who successfully disaffirm a contract are not entitled to the return of any consideration they have given the adult party to the contract.

Accepted Answer

A) True 
 B)False

Question 17

If a court later finds that a person lacked mental capacity at the time the contract was entered into,the contract is _____.

Accepted Answer

A)   not voidable
B)   voidable
C)   automatically illegal
D)   reaffirmed

Question 18

A minor can disaffirm a contract made for _____.

Accepted Answer

A)   real estate
B)   life insurance
C)   vocational training
D)   bank accounts

Question 19

In a contract involving a minor,whether an item can be considered "necessary":

Accepted Answer

A)   depends on what the adult signed for.
B)   depends on the minor's station in life.
C)   doesn't depend on personal circumstances.
D)   doesn't depend on the minor's age.

Question 20

With respect to contracts,"status quo ante" refers to:

Accepted Answer

A)   minors losing the right to disaffirm if they fraudulently misrepresent their age.
B)   the position one would be in if a given contract had never come into existence.
C)   the basic risks of entering into contracts.
D)   a minor being protected by law on all counts of misbehavior.

Exam 13: Capacity to Contract

In most states,the agreements of people who have been adjudicated insane are _____.

Correct Answer
verified

_____ are generally defined as those things that are essential to a minor's continued existence and general welfare.

Correct Answer
verified

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

Correct Answer
verified

With respect to property,under the common law,minors:

Correct Answer
verified

With respect to contracts,"status quo ante" refers to:

Correct Answer
verified

People who regain their mental capacity:

Correct Answer
verified

A person lacking mental capacity must return the other party to status quo when:

Correct Answer
verified

If a person is adjudicated insane,his or her personal representative cannot ratify the contract.

Correct Answer
verified

Minors are generally held liable on a quasi contract basis for the reasonable value of necessaries furnished to them.

Correct Answer
verified

Minors are liable for the value of necessaries they have purchased under a contract but have not received at the time they disaffirm.

Correct Answer
verified

Which of the following statements is true of contract ratification?

Correct Answer
verified

A minor can disaffirm a contract made for _____.

Correct Answer
verified

In a contract involving a minor,whether an item can be considered "necessary":

Correct Answer
verified

Why are minors held liable on a quasi contract basis for the reasonable value of necessaries furnished to them?

Correct Answer
verified
Minors are generally held liable on a qu...
View Answer

Correct Answer
verified

Which of the following is true of emancipation?

Correct Answer
verified

Which of the following terms is used to describe the termination of a parent's right to receive services and wages from a child and to generally control him?

Correct Answer
verified

If a court later finds that a person lacked mental capacity at the time the contract was entered into,the contract is _____.

Correct Answer
verified

According to the Uniform Commercial Code,minors whose contracts involve goods can no longer reclaim those goods from innocent third parties.

Correct Answer
verified

Minors who successfully disaffirm a contract are not entitled to the return of any consideration they have given the adult party to the contract.

Correct Answer
verified

Exam 13: Capacity to Contract

In most states,the agreements of people who have been adjudicated insane are _____.

Correct AnswerverifiedShow Answer

_____ are generally defined as those things that are essential to a minor's continued existence and general welfare.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

With respect to property,under the common law,minors:

Correct AnswerverifiedShow Answer

With respect to contracts,"status quo ante" refers to:

Correct AnswerverifiedShow Answer

People who regain their mental capacity:

Correct AnswerverifiedShow Answer

A person lacking mental capacity must return the other party to status quo when:

Correct AnswerverifiedShow Answer

If a person is adjudicated insane,his or her personal representative cannot ratify the contract.

Correct AnswerverifiedShow Answer

Minors are generally held liable on a quasi contract basis for the reasonable value of necessaries furnished to them.

Correct AnswerverifiedShow Answer

Minors are liable for the value of necessaries they have purchased under a contract but have not received at the time they disaffirm.

Correct AnswerverifiedShow Answer

Which of the following statements is true of contract ratification?

Correct AnswerverifiedShow Answer

A minor can disaffirm a contract made for _____.

Correct AnswerverifiedShow Answer

In a contract involving a minor,whether an item can be considered "necessary":

Correct AnswerverifiedShow Answer

Why are minors held liable on a quasi contract basis for the reasonable value of necessaries furnished to them?

Correct AnswerverifiedMinors are generally held liable on a qu...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Which of the following is true of emancipation?

Correct AnswerverifiedShow Answer

Which of the following terms is used to describe the termination of a parent's right to receive services and wages from a child and to generally control him?

Correct AnswerverifiedShow Answer

If a court later finds that a person lacked mental capacity at the time the contract was entered into,the contract is _____.

Correct AnswerverifiedShow Answer

According to the Uniform Commercial Code,minors whose contracts involve goods can no longer reclaim those goods from innocent third parties.

Correct AnswerverifiedShow Answer

Minors who successfully disaffirm a contract are not entitled to the return of any consideration they have given the adult party to the contract.

Correct AnswerverifiedShow Answer

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Minors are generally held liable on a qu...
View Answer

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verified

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