A minor may ratify a voidable contract only after attaining majority. Explain
Ratification means indicating one's willingness to be bound by promises made during minority. It refers to a new promise and may be oral, written, or merely implied by conduct. However, some states require it to be in writing. A minor may ratify a voidable contract only after attaining majority. After majority is reached, silence ratifies an executed contract. A minor cannot ratify part of a contract and disaffirm another part; all or none of it must be ratified. Ratification must be made within a reasonable time after reaching majority. A reasonable time is a question of fact to be determined in light of all surrounding circumstances.?
You might also like to view...
In the ATM model, if the nominal interest rate declines, then the
A. number of days between visits to the ATM and the quantity of money demanded both rise. B. number of days between visits to the ATM and the quantity of money demanded both fall. C. number of days between visits to the ATM rises and the quantity of money demanded falls. D. number of days between visits to the ATM falls and the quantity of money demanded rises.
What did the first lie detector machine use as a criterion for detecting falsehood?
a. blood pressure b. skin changes c. eye movement d. breath rate
Automobile manufacturers could build cars specially designed for very tall people (for example, over seven feet), but it is likely that this segment is not substantial.
Answer the following statement true (T) or false (F)
Teleconferencing that allows participants to see one another on monitors as they participate in group discussions is called ______.
A) role playing B) case study C) orientation D) videoconferencing