BLAW 341 Final Exam Questions and
Answers 100% Solved | Graded A+
A binding promise or agreement requires that the parties to the agreement
have contractual capacity
Everyone is regarded as having such capacity unless the law holds that the
individual lacks such capacity
Minors (infants), incompetent persons, and intoxicated persons -
✔✔contractual capacity
A minor or infant is a person who has not attained the age of legal majority:
18
Minor's contract, whether executory or executed, is voidable, unless the
contract has been ratified
Adult party to the contract cannot avoid the contract with the minor
Best to require an adult to cosign the contract and guarantee performance
Some contracts cannot be avoided: student loans or medical care
Some contracts have a lower age for capacity: bank accounts, marriage, or
insurance contracts
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,- To do business, get a guarantor/cosigner - ✔✔minors
Disaffirmance - exercise of power to avoid the contract which releases the
minor from any liability on the contract
After the minor reaches the age of majority, he or she may choose to adopt
or ratify the contract
Bound by ratification
- can just stop showing up for work, no magic words to disaffirm -
✔✔liability on contracts
Minor may disaffirm the contract any time prior to reaching the age of
majority
- May only disaffirm the sale of land after reaching the age of majority
Minor may also disaffirm the contract within a reasonable time after coming
of age, so long as he or she has not already ratified the contract
- Reasonable time depends on circumstances such as the nature of the
transaction, whether either party has caused the delay, and the extent to
which either party has been injured by the delay
May exercise the power to disaffirm a contract through words (express) or
conduct showing an intent to not abide by the contract (implied)
- No particular form of language is essential so long as it shows an
intention not to be bound - ✔✔disaffirmance
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,Minor who has disaffirmed a contract is entitled to restitution from the other
party for any benefit the minor has conferred on the other party
After disaffirmance, the minor may also be required to provide restitution
- In a majority of states, the minor must return any property received from
the other party to the contract, provided that he or she is in possession of it
at the time of disaffirmance
In the case of the sale of real estate, a minor could take back a deed of
conveyance from a third-party, good-faith purchaser of the land
Under the UCC, a person with voidable title (person who bought goods
from a minor) has the power to transfer valid title to a good-faith purchaser
for value - ✔✔restitution
little boy & his mom signed a contract with a manager, didn't want to pay
him. mom now has to pay bc she also signed - ✔✔BERG V. TRAYLOR
(make it binding)
Minor has the option of ratifying a contract after reaching the age of
majority
- No power to ratify while still a minor
Ratification makes the contract binding from the beginning
Ratification is final and cannot be withdrawn
Must validate the entire agreement
3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, Ratification can occur in three ways:
1. Through express language,
2. As implied from conduct,
3. Or through failure to make a timely disaffirmance - ✔✔ratification
Kobe signs contract w Scoreboard to get paid $2 per autograph at 17.
Once 18 he was signed by The Hornets. he wanted to leave contract but
couldn't bc 3 days after he turned 18, he deposited the $10K check.
good contracts = assets
- so they can:
1. license it (everyone has to pay them for autograph)
2. sell it
3. keep it - ✔✔IN RE THE SCORE BOARD, INC.
Contractual incapacity does not excuse a minor from an obligation to pay
for NECESSARIES: food, shelter, medicine, and clothing
- Items that the minor needs to maintain himself or herself in his or her
particular station in life: textbooks, school instruction, and legal advice
Minor is not contractually liable for the agreed price but for the reasonable
value of the items furnished
Minor is not liable unless the necessary has been furnished to the minor
and used or consumed by the minor
4
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
Answers 100% Solved | Graded A+
A binding promise or agreement requires that the parties to the agreement
have contractual capacity
Everyone is regarded as having such capacity unless the law holds that the
individual lacks such capacity
Minors (infants), incompetent persons, and intoxicated persons -
✔✔contractual capacity
A minor or infant is a person who has not attained the age of legal majority:
18
Minor's contract, whether executory or executed, is voidable, unless the
contract has been ratified
Adult party to the contract cannot avoid the contract with the minor
Best to require an adult to cosign the contract and guarantee performance
Some contracts cannot be avoided: student loans or medical care
Some contracts have a lower age for capacity: bank accounts, marriage, or
insurance contracts
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,- To do business, get a guarantor/cosigner - ✔✔minors
Disaffirmance - exercise of power to avoid the contract which releases the
minor from any liability on the contract
After the minor reaches the age of majority, he or she may choose to adopt
or ratify the contract
Bound by ratification
- can just stop showing up for work, no magic words to disaffirm -
✔✔liability on contracts
Minor may disaffirm the contract any time prior to reaching the age of
majority
- May only disaffirm the sale of land after reaching the age of majority
Minor may also disaffirm the contract within a reasonable time after coming
of age, so long as he or she has not already ratified the contract
- Reasonable time depends on circumstances such as the nature of the
transaction, whether either party has caused the delay, and the extent to
which either party has been injured by the delay
May exercise the power to disaffirm a contract through words (express) or
conduct showing an intent to not abide by the contract (implied)
- No particular form of language is essential so long as it shows an
intention not to be bound - ✔✔disaffirmance
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,Minor who has disaffirmed a contract is entitled to restitution from the other
party for any benefit the minor has conferred on the other party
After disaffirmance, the minor may also be required to provide restitution
- In a majority of states, the minor must return any property received from
the other party to the contract, provided that he or she is in possession of it
at the time of disaffirmance
In the case of the sale of real estate, a minor could take back a deed of
conveyance from a third-party, good-faith purchaser of the land
Under the UCC, a person with voidable title (person who bought goods
from a minor) has the power to transfer valid title to a good-faith purchaser
for value - ✔✔restitution
little boy & his mom signed a contract with a manager, didn't want to pay
him. mom now has to pay bc she also signed - ✔✔BERG V. TRAYLOR
(make it binding)
Minor has the option of ratifying a contract after reaching the age of
majority
- No power to ratify while still a minor
Ratification makes the contract binding from the beginning
Ratification is final and cannot be withdrawn
Must validate the entire agreement
3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, Ratification can occur in three ways:
1. Through express language,
2. As implied from conduct,
3. Or through failure to make a timely disaffirmance - ✔✔ratification
Kobe signs contract w Scoreboard to get paid $2 per autograph at 17.
Once 18 he was signed by The Hornets. he wanted to leave contract but
couldn't bc 3 days after he turned 18, he deposited the $10K check.
good contracts = assets
- so they can:
1. license it (everyone has to pay them for autograph)
2. sell it
3. keep it - ✔✔IN RE THE SCORE BOARD, INC.
Contractual incapacity does not excuse a minor from an obligation to pay
for NECESSARIES: food, shelter, medicine, and clothing
- Items that the minor needs to maintain himself or herself in his or her
particular station in life: textbooks, school instruction, and legal advice
Minor is not contractually liable for the agreed price but for the reasonable
value of the items furnished
Minor is not liable unless the necessary has been furnished to the minor
and used or consumed by the minor
4
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
