Which of the following is true regarding the obligation of a minor on disaffirmance?
A) In all states, a minor must return any consideration in his control but is entitled to a full refund of any purchase price regardless of the condition of the consideration when returned.
B) In all states, a minor is entitled to a full refund without returning consideration.
C) In all states, a minor must return any consideration in his control, must make restitution, and must pay for any loss in value of the collateral.
D) In all states, a minor only receives a return of half the minor's investment.
E) The obligations of a minor upon disaffirmance vary from state to state.
Correct Answer:
Verified
Q33: If a legal contract is formed and
Q34: How many states have statutes requiring that
Q35: Because their contracts are _, minors have
Q35: Because _ does not favor intoxication,the courts
Q36: When must a disaffirmance of a contract
Q39: Which of the following is the maximum
Q40: As a general rule,most states will not
Q42: A statement releasing one of the parties
Q42: Which of the following was the result
Q43: The agreement Rick and Janice entered into
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents