Which of the following is false regarding contracts

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South-Western Federal Taxation 2020: Comprehensive
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Chapter 5 / Exercise 6
South-Western Federal Taxation 2020: Comprehensive
Maloney/Raabe/Young
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26. Which of the following is false regarding contracts for necessaries entered into by minors?
27. Which of the following occurs when a person reaches the age of majority and states, either orally or in writing, that he or she intends to be bound by the contact entered into as a minor?
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The document you are viewing contains questions related to this textbook.
South-Western Federal Taxation 2020: Comprehensive
The document you are viewing contains questions related to this textbook.
Chapter 5 / Exercise 6
South-Western Federal Taxation 2020: Comprehensive
Maloney/Raabe/Young
Expert Verified
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28. A[n] ______ occurs when a former minor does not specifically state that he affirms a contract entered into as a minor but takes some action that is consistent with intent to ratify the contract.
29. Which of the following is true regarding the ability of persons suffering from a mental illness to enter into a binding contract?
30. Guardians may be appointed for which of the following?
31. Which of the following is true if a contract is disaffirmed on the basis of intoxication?
32. Because ______ does not favor intoxication, the courts tend to be unsympathetic to intoxicated parties and will fairly liberally interpret as ratification of a contract behavior that appears as ratification.
33. Which of the following is true regarding an agreement to commit a crime or a tort?
34. If a legal contract is formed and the subject of the contract then becomes illegal under a new statute, the contract is ______.
35. How many states have statutes requiring that people working in certain professions obtain a license before practicing their craft?
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36. Which of the following is a purpose of licensing statutes?
37. If a licensing statute is intended to protect the public's health, safety, and welfare, an agreement with an unlicensed professional is typically deemed _____.

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