Asked by
Brian Lindenberg
on Nov 21, 2024
Verified
Once a young person reaches the age of majority and ratifies a contract made as a minor, he or she has a reasonable period of time to void the contract.
Ratifies
To formally confirm or approve an agreement or treaty, making it officially valid.
Age Of Majority
The legally recognized age at which an individual is considered an adult and capable of making decisions and entering into contracts without parental consent.
Reasonable Period
Refers to a time frame that is considered fair and appropriate under the circumstances to perform a certain task or fulfill an obligation.
- Comprehend the specific situations in which a contract is eligible for ratification and the subsequent effects of ratification or disaffirmance on the enforceability of contracts agreed to by minors.
Verified Answer
AB
Learning Objectives
- Comprehend the specific situations in which a contract is eligible for ratification and the subsequent effects of ratification or disaffirmance on the enforceability of contracts agreed to by minors.