BUSINESS ADMINISTRATION
BUSINESS LAW
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
any amount the druggist wants to charge.
|
|
|
the reasonable value of the prescription.
|
|
|
an amount decided on by the minor.
|
|
|
the price set by the manufacturer.
|
Detailed explanation-1: -People who can prove they lacked the capacity to enter a legally binding contract-intoxication, mental incompetence, etc.-can disaffirm a contract and therefore avoid any and all legal obligations set forth in the contract. In many cases, this can apply to minors.
Detailed explanation-2: -Voidable Contracts Examples Some examples of contracts that are voidable are those that were entered under fraud, mistake, or duress or contracts entered into with minors or persons of unsound mind. Voidable contracts are legally binding on both parties until the innocent party seeks to rescind such contract.
Detailed explanation-3: -Any person who is not of the age of majority is a minor. In India, 18 years is the age of majority. Below the age of 18 years does not have the capacity to enter into a contract. A contract or agreement with a minor is null from the beginning, and no one can sue them.
Detailed explanation-4: -The two types of voidable contracts are contracts signed without capacity and contracts signed without mutual assent. Capacity and mutual assent are two indispensable legal elements of a valid and enforceable contract.