BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When the contract is affirmed.
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When the contract is null and void.
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When the contract is disaffirmed.
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None of these answers.
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Detailed explanation-1: -In order for the process of disaffirmance to be complete, the minor must return the item to the store to receive their money back. The store’s stated/printed return policy does not apply to the minor because they cannot legally agree to the terms of the contract not being an adult.
Detailed explanation-2: -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-3: -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-4: -Definition of ‘disaffirm’ 1. to deny or contradict (a former statement) Law. a. to refuse to abide by (a contract, agreement, etc.
Detailed explanation-5: -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.