Review Chapter 7: Question Preview (ID: 8945)

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When a person reaches the age of ___ he or she is no longer a minor.
a) majority
b) infancy
c) competency
d) plurality

When a minor attempts to get our of a contract, he or she is said to have attempted to rescind or ___ the contract.
a) ratify
b) avoid
c) complete
d) emancipate

Minors are held for the ____ necessaries.
a) exact value
b) fair value
c) extraordinary value
d) decreased value

A guardian is said to look after the affairs of a(n)
a) fiduciary person
b) incompetetent person
c) legal person
d) young person

Incompetent persons lack the ____ to contract.
a) intelligence
b) desire
c) capacity
d) reason

A person who has not reached the age of majority is a(an)
a) minor
b) adult
c) idiot
d) major

A person who is living in this country but who owes allegaince to another country is called a(an)
a) minor
b) alien
c) martian
d) adult

Minors may rafify or _____ their contracts if they so choose.
a) complement
b) legislate
c) blow up
d) approve

A person actually reaches their majority
a) on their birthday
b) on the day after their birthday
c) on the day before their birthday
d) on Mrs. Landherr's birthday

A minor will be held responsible for his or her own contract in which situation?
a) They bought presciption medication and still live at home with their parents.
b) They ran away from home without their parents' permission and signed a 1 year lease on an apartment.
c) Their parents kicked them out of their house and they signed a 1 year lease on an apartment.
d) They bought a new winter coat and still live at home with their parents.

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