Business Law Today Comprehensive 8th Edition By Roger LeRoy Miller – Test Bank

TRUE/FALSE QUESTIONS

1. Some states provide for the termination of minority status on marriage.

ANSWER: T PAGE: 287 TYPE: N
NAT: AACSB Analytic LOC: AICPA Legal

2. In general, minors are not held personally liable for their contracts.

ANSWER: F PAGE: 287 TYPE: =
NAT: AACSB Analytic LOC: AICPA Legal

3. A minor can disaffirm a contract only after reach¬ing the age of majority.

ANSWER: F PAGE: 288 TYPE: =
NAT: AACSB Analytic LOC: AICPA Legal

4. A minor may accept and validate a contract with an adult.

ANSWER: T PAGE: 288 TYPE: N
NAT: AACSB Analytic LOC: AICPA Legal

5. An adult may disaffirm a contract entered into with a minor.

ANSWER: F PAGE: 288 TYPE: =
NAT: AACSB Analytic LOC: AICPA Legal

6. If a minor disaffirms a contract, he or she must disaffirm the entire contract.

ANSWER: T PAGE: 288 TYPE: =
NAT: AACSB Analytic LOC: AICPA Legal

7. Disaffirmance is the legal avoidance of a contractual obligation.

ANSWER: T PAGE: 288 TYPE: N
NAT: AACSB Analytic LOC: AICPA Legal

8. A minor who affirmatively misrepresents himself or herself to be an adult will not be able to disaffirm a contract in most states.

ANSWER: F PAGE: 289 TYPE: =
NAT: AACSB Analytic LOC: AICPA Legal

9. Food is the only thing that courts have been willing to de¬fine as “necessary.”

ANSWER: F PAGE: 289 TYPE: N
NAT: AACSB Reflective LOC: AICPA Legal

10. Parents are required by law to provide necessaries for their minor children.

ANSWER: T PAGE: 289 TYPE: =
NAT: AACSB Analytic LOC: AICPA Legal

11. A minor’s failure to perform an executory contract within a reasonable time after reaching the age of majority implies disaffirmance.

ANSWER: T PAGE: 290 TYPE: =
NAT: AACSB Analytic LOC: AICPA Legal

12. Parents are ordinarily liable for the contracts made by their minor children, whether or not the children acted on their own.

ANSWER: F PAGE: 292 TYPE: =