Question 1

Daniel, age 15, bought a diamond ring from a local jewelry store. The jeweler was aware of his age. He made a partial payment on the ring of $100. Ten months later, Daniel's girlfriend broke off the engagement but refused to return the ring. Daniel sought to disaffirm the contract for the ring, but the jeweler argued that he could not do so without returning the ring. Can Daniel disaffirm in this case?

Accepted Answer

A court would most likely hold that the ...

Question 2

Emancipation can occur when a minor marries or gets a job and moves away from home and the parent does not object.

Accepted Answer

A) True 
 B)False

Question 3

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.

Question 4

In a contract made by a minor, _____.

Accepted Answer

A)   adult parties bound to the contract cannot disaffirm the contract
B)   the minor does not have the right to disaffirm the contract
C)   his/her siblings who are also minors can disaffirm the contract on his/her behalf
D)   the minor can disaffirm the contract at any time, even after attaining majority

Question 5

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 6

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

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is a correct statement regarding minors and necessaries?

Accepted Answer

A)   Whether a given item is considered a necessary depends on the facts of the particular case.
B)   Items sold to a minor are considered necessaries of life even if the minor's parent or guardian has supplied or is willing to supply similar items.
C)   Minors are generally held liable on a quasi contract basis for the contract price of necessaries furnished to them.
D)   As a general rule, the definition of necessary is narrowing to exclude things commonly considered important by today's standards.

Question 8

Explain the test for mental incapacity in contract law.

Accepted Answer

The test for mental incapacity applied i...

Question 9

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 10

If either party entering a contract lacks the capacity to contract, the contract is void or voidable, depending on the kind of incapacity involved.

Accepted Answer

A) True 
 B)False

Exam 13: Capacity to Contract

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

Correct Answer
verified

Emancipation can occur when a minor marries or gets a job and moves away from home and the parent does not object.

Correct Answer
verified

In a contract made by a minor, _____.

Correct Answer
verified

Explain the test for mental incapacity in contract law.

Correct Answer
verified
The test for mental incapacity applied i...
View Answer

Correct Answer
verified
A court would most likely hold that the ...
View Answer

With respect to contracts, status quo ante refers to:

Correct Answer
verified

If either party entering a contract lacks the capacity to contract, the contract is void or voidable, depending on the kind of incapacity involved.

Correct Answer
verified

Which of the following is a correct statement regarding minors and necessaries?

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

Which of the following statements is true of contract ratification?

Correct Answer
verified

Exam 13: Capacity to Contract

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

Correct AnswerverifiedShow Answer

Emancipation can occur when a minor marries or gets a job and moves away from home and the parent does not object.

Correct AnswerverifiedShow Answer

In a contract made by a minor, _____.

Correct AnswerverifiedShow Answer

Explain the test for mental incapacity in contract law.

Correct AnswerverifiedThe test for mental incapacity applied i...View AnswerShow Answer

Correct AnswerverifiedA court would most likely hold that the ...View AnswerShow Answer

With respect to contracts, status quo ante refers to:

Correct AnswerverifiedShow Answer

If either party entering a contract lacks the capacity to contract, the contract is void or voidable, depending on the kind of incapacity involved.

Correct AnswerverifiedShow Answer

Which of the following is a correct statement regarding minors and necessaries?

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

Which of the following statements is true of contract ratification?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The test for mental incapacity applied i...
View Answer

Correct Answer
verified
A court would most likely hold that the ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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