Answer:
voidable , dis-affirmed
Explanation:
According to my research, contracts made with minors are considered as voidable contracts and can be dis-affirmed (declare void). This is because in many states a minor (anyone under 18 years old) is thought to lack the capacity or understanding of what he/she is signing. Therefore as long as the minor is under the age of 18 (and for a couple of days after becoming 18) they can dis-affirm the contract.
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Since they were the ones controling production of food. They were able to produce enough food themselves. Also, civilization started due to people gathered at one place for farming.
Amount left after subtracting the unpaid debt balance on the property from the current market value as assessed by a valuator. It increases as the debts are paid off and when the value is appreciating. Also called equity. this was on my college exam it took me awhile to get it too
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Answer:
The revenue should not be recognized because of the unusual and subjective terms under which the buyer has the right to return the product.
Explanation:
If a buyer of goods has the right to return a product, the transaction is considered a sale with a right of return. When regular sales are made under these terms and there is a reasonable basis for estimating returns, revenue from the sale ought to be recognized and an allowance for returnsshould be established.
However, when the rate of returns cannot be reasonably estimated, revenue is not recognized until the right of return expires. Even though the goods were shipped in 2015, until the buyer accepts the goods or the right to return them expires, revenue would not be recognized.
