All categories

3 years ago

A minor can disaffirm a contract if:

Business

1 answer:

SashulF [63]3 years ago

4 0

Answer:

a. he or she has not ratified the contract on reaching majority.

Explanation:

Generally a minor is allowed to dissaffirm a contract they entered when they were underaged. Also when they attain the age of majority they will need to ratify the contract for it to be binding.

In the case where the contract has not been ratified on reaching majority, it can still be dissaffirmed.

Contracts with minors are void, and only some state laws allow for ratification of the contract on attainment of majority age.

You might be interested in

Based on the following information, what is the balance on the current account? Exports of goods and services = $12 billion I

Delicious77 [7]

Answer:

-$7billion

Explanation:

Given that

Exports of goods and services=$12 billion

Imports of goods and services=$14 billion

Net income on investments= -$4 billion

Net transfers= -$1 billion

Increase in foreign holdings of assets in the United States= $6 billion

Increase in U.S. holdings of assets in foreign countries= $3 billion

Recall that

CAB = (X - M) + NY + NCT

Where

X = export

M = import

CAB = current account balance

NY = net income from abroad

NCT = net current transfers

Therefore

CAB = (12 - 14) - 1 - 4

= - $7 billion

4 0

3 years ago

Read 2 more answers

Describe the three different ways the argument section of a cover letter can be formatted.

kiruha [24]

Answer:

i think they are personal, formal and informal

Explanation:

im not sure but i think thats it

4 0

3 years ago

Read 2 more answers

Which option is an example of labor as a factor of production?

ANTONII [103]

The answer you’re looking for is OD hopes this helps !

5 0

3 years ago

Tawney Company is considering investing in a new piece of equipment that costs $700,000 and has a $200,000 residual value. The n

timama [110]

Answer:

average amount invested in the asset = $450,000

Explanation:

given data

equipment costs = $700,000

residual value = $200,000

cost savings = $60,000

to find out

average amount invested in the asset

solution

we get here Average amount invested that is express as

average amount invested in the asset = ( Amount invested + Residual value) ÷ 2 ........................1

put here value we get

average amount invested in the asset = $\frac{$700000+$200000}{2}$

average amount invested in the asset = $450,000

7 0

4 years ago

You purchased 200 shares of ABC common stock on margin at $50 per share. Assume the initial margin is 50% and the maintenance ma

anygoal [31]

Answer:

get margin call if stock drop below $35.71

Explanation:

given data

share = 200

margin = $50 per share

initial margin = 50 %

maintenance margin = 30%

to find out

margin call if the stock drops below

solution

we know equity is = 200P - 5000

and here P is margin call if stock drop

margin is express as

margin = $\frac{equity}{share}$ = maintenance margin

$\frac{200P - 5000}{200P}$ = 0.30

200P - 5000 = 60P

P = $\frac{5000}{140}$

P = 35.71

so get margin call if stock drop below $35.71

3 0

3 years ago