BLAW chapter 12 study questions

BLAW chapter 12 study questions - Doug Jackson Business Law...

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Doug Jackson Business Law section 8 Chapter 12 questions May 2, 2006 Chapter 12 Study Questions 1.) The general rule is that a minor can enter into any contract that an adult can, provided that the contracts is not one prohibited by law for minors (for example, the sale of tobacco or alcoholic beverages.) A contract entered into by a minor, however, is voidable at the option of that minor, subject to certain exceptions. The technical definition of disaffirmance is the legal avoidance, or setting aside, of a contractual obligation. A contract can be ordinarily disaffirmed at any time during minority or for a reasonable period after reaching majority. Note the minor must disaffirm the entire contract, not merely a portion of it. 2.) Courts hold that in majority states the minor need only return the goods (or other consideration) subject to the contract, provided the goods are in the minor’s possession or control. An increasing number or states, either by statute or by court decision, place an additional duty on the minor-the duty to restore the adult party to the position that he or she held before the contract was made. 3.) Suppose that a minor tells a seller that she is twenty-one years old when she is in fact seventeen. Ordinarily, the minor can disaffirm the contract even though she has misrepresented her age. 4.) A minor who enters into a contract for necessaries may disaffirm the contract but
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This note was uploaded on 03/21/2012 for the course BLAW 1000 taught by Professor Stuff during the Spring '12 term at LSU.

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BLAW chapter 12 study questions - Doug Jackson Business Law...

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