BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Disaffirmance is the right for one party to renounce a contract. The person must indicate that they will not be bound by the terms outlined in the agreement expressly or implicitly. People who can prove they lacked the capacity to enter a legally binding contract and minors can disaffirm a contract.

Detailed explanation-2: -A person lacking contractual capacity can disaffirm a contract for non-necessaries anytime while still under the incapacity, or within a reasonable time after attaining capacity. After attaining capacity, the person may ratify the contract that was made while incapacitated.

Detailed explanation-3: -the legal avoidance, or setting aside, of a contractual obligation is referred to as disaffirmance. to disaffirm, a minor must express his or her intent, through words or conduct, not to be bound to the contract. The minor must disaffirm the entire contract, not merely a portion of it.

Detailed explanation-4: -A minor can disaffirm or avoid a contract by showing an intent not to be bound by it. Most contracts can be disaffirmed by a minor at anytime before reaching the age of majority or for a reasonable time after reaching majority.

Detailed explanation-5: -Overview of Exceptions to Minor’s Right to Disaffirm. Misrepresentation and Liability for Necessaries. Capacity and Loss of Value. Types of Contracts.