BLAW 3391 Test 3 Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: Minority Rule
Answer:
More states are placing additional duty on the minor to establish the adult
party to the position held before the contract was made
Q: Exceptions to a minor's right to disaffirm
Answer:
1. misrepresentation of age
2. Contracts for necessaries
3. Insurance and Loans
Q: Misrepresentation of Age
Answer:
If minor lies about age before going under contract. Also can only
disaffirm fully completed contracts if he can return the consideration received.
,BLAW 3391 Test 3 Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: Contracts for Necessaries
Answer:
Items that fulfill basic needs like food and clothing. Minor entering
this contract may disaffirm but is liable for the value of the goods received.
Q: Insurance and Loans
Answer:
Only in some jurisdictions they cannot disaffirm. They could argue that
something like life insurance is not considered necessary.
Q: Ratification
Answer:
accepting and giving legal force to an obligation previously not enforceable
, BLAW 3391 Test 3 Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: Intoxicated persons
Answer:
A contract entered into by an intoxicated person can be either voidable
or valid (and thus enforceable)
Q: Mentally Incompetent Persons
Answer:
Contracts can be void, voidable, or valid.
Q: Depends on mental capacity at the time the contract was formed
Answer:
Q: Usury
Answer:
charging an illegal rate of interest
Latest 2026 Update
Q: Minority Rule
Answer:
More states are placing additional duty on the minor to establish the adult
party to the position held before the contract was made
Q: Exceptions to a minor's right to disaffirm
Answer:
1. misrepresentation of age
2. Contracts for necessaries
3. Insurance and Loans
Q: Misrepresentation of Age
Answer:
If minor lies about age before going under contract. Also can only
disaffirm fully completed contracts if he can return the consideration received.
,BLAW 3391 Test 3 Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: Contracts for Necessaries
Answer:
Items that fulfill basic needs like food and clothing. Minor entering
this contract may disaffirm but is liable for the value of the goods received.
Q: Insurance and Loans
Answer:
Only in some jurisdictions they cannot disaffirm. They could argue that
something like life insurance is not considered necessary.
Q: Ratification
Answer:
accepting and giving legal force to an obligation previously not enforceable
, BLAW 3391 Test 3 Questions and Answers with Verified Solutions |
Latest 2026 Update
Q: Intoxicated persons
Answer:
A contract entered into by an intoxicated person can be either voidable
or valid (and thus enforceable)
Q: Mentally Incompetent Persons
Answer:
Contracts can be void, voidable, or valid.
Q: Depends on mental capacity at the time the contract was formed
Answer:
Q: Usury
Answer:
charging an illegal rate of interest
