Which of the following is true of the test of incapacity?
A. In most states, the agreements of persons who have been adjudicated insane are not void.
B. A person could be periodically insane but can enter a binding contract during a lucid moment.
C. Emancipated in this context means a general hearing was held on the person's mental competency, and the court determined that the person was of unsound mind.
D. A medically insane person does not have the legal capacity to contract.
Answer: B
You might also like to view...
To measure assets, liabilities, revenues, expenses, and other elements of the financial statements with the most relevant and faithful measurement available is the mixed attribute measurement model
Indicate whether the statement is true or false
A competitor's price is one of the most visible elements of its marketing strategy; analyzing historical and current pricing patterns may allow firms to determine the competitor's pricing objective.
Answer the following statement true (T) or false (F)
When toll roads make customers pay part of their costs, the pricing objective is called:
a. market size maximization b. market disincentivization c. social equity d. surplus maximization e. cost recovery
To be useful, compensable factors should be:
A. based on the strategy of the organization's competitors B. constant during major shifts in business strategies C. based on the strategy but not the values of the organization D. standardized across all employers E. acceptable to the stakeholders affected by the resulting pay structure