Asked by Manuel Rodriguez on Jun 08, 2024
Verified
In most states, determining what is a reasonable time for disaffirmance depends on a statutorily prescribed time period.
Disaffirmance
The legal act of renouncing or rejecting a contract or agreement, particularly exercised by minors or those not fully competent to enter contracts.
Statutorily
Relating to or enacted by a statute, meaning it is defined or required by law.
- Understand the concept of contractual capacity and its implications for contracts involving minors, insane persons, and intoxicated individuals.
- Identify the legal mechanisms available for the protection of minors in contracts, including disaffirmance and ratification.
Verified Answer
CF
Clandistine FurtiveJun 14, 2024
Final Answer :
False
Explanation :
The determination of what constitutes a reasonable time for disaffirmance typically depends on the circumstances of each case rather than a statutorily prescribed time period.
Learning Objectives
- Understand the concept of contractual capacity and its implications for contracts involving minors, insane persons, and intoxicated individuals.
- Identify the legal mechanisms available for the protection of minors in contracts, including disaffirmance and ratification.