Asked by Logan Robinson on May 26, 2024
Verified
Which of the following occurs when a person reaches the age of majority and states, either orally or in writing, that he or she intends to be bound by the contract entered into as a minor?
A) Implied ratification
B) Express ratification
C) Express novation
D) Implied novation
E) Express ratification if the statement is in writing but nothing if the statement is only oral
Express Ratification
The formal affirmation or approval of an act or contract, making it valid and binding.
Age Of Majority
The legal age at which an individual is considered an adult and can engage in activities such as voting and signing contracts.
Entered Into
Refers to the act of formally agreeing to or engaging in an agreement, contract, or arrangement.
- Ascertain the scenarios that allow for a contract's ratification and the impact of such ratification or disaffirmance on the legitimacy of agreements made by minors.
Verified Answer
VR
Victoria ReynoldsMay 31, 2024
Final Answer :
B
Explanation :
Express ratification occurs when a person, upon reaching the age of majority, explicitly states (either orally or in writing) their intention to be bound by a contract they entered into as a minor. This declaration can be made in any form of clear communication.
Learning Objectives
- Ascertain the scenarios that allow for a contract's ratification and the impact of such ratification or disaffirmance on the legitimacy of agreements made by minors.
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