Question

At age seventeen, Luke Skywalker enters into a contract to buy a dozen movies from eHD Stream, Inc., an online video service. Soon after reaching the age of majority, Luke attempts to disaffirm the contract. eHD files a suit against him. The court will most likely consider the contract ratified if it is _________.

Answer 1

Answer:

Executed

Explanation:

Ratification of a contract refers to formally approving a contractual obligation. To dis-affirm refers to back out of a contract wherein the parties to it return the consideration.

A minor, an individual below the age of eighteen years does not have capacity to a valid contract. A minor may void a contract before attaining majority.

When a contract has been signed by both the parties to it, with transaction closed, the contract shall be termed as executed.

In the given case, Luke a minor entered a contract to buy movies. Later upon attaining majority, Luke decides to disaffirm i.e not honor it. The contract in such a scenario shall be considered as formally approved i.e ratified by both parties if it was executed.

In such a case, Luke will have to honor the contract since the disaffirmation period i.e before his attaining majority has lapsed.