Asked by Bianca LaForteza on Jul 09, 2024
Verified
Any business firm or merchant that decides to enter into a contract with a minor assumes the risk (in the case of a contract for a non-necessary) that the minor might repudiate the agreement.
Repudiate
To refuse to accept or be associated with; in legal terms, it often refers to rejecting the validity of a contract or agreement.
Non-Necessary
Non-necessary refers to something that is not essential or required for a particular purpose or function.
- Determine the rights and duties of minors in contractual agreements.
Verified Answer
IL
Ibrain LozoyaJul 09, 2024
Final Answer :
True
Explanation :
Contracts with minors for non-necessaries are generally voidable at the option of the minor, meaning the minor can choose to repudiate or cancel the agreement, leaving the business or merchant at risk.
Learning Objectives
- Determine the rights and duties of minors in contractual agreements.