Which of the following is a correct statement regarding the test of contractual incapacity?
A. The test usually applied in contract law is whether a party, at the time the case is litigated, had sufficient mental capacity to understand the nature and effect of the contract.
B. A person with less-than-ordinary intelligence cannot enter into a binding agreement.
C. A person could be medically insane but still have the legal capacity to contract.
D. A person who is senile cannot enter into a binding agreement.
Answer: C
You might also like to view...
According to Michael Porter, access-based positioning occurs when a company ________
A) satisfies a broad set of needs of all the customers in a wide segment B) limits its product offering in order to minimize its prices C) uniquely or preferentially reaches a specific market D) focuses on the cost leadership generic strategy alone
When hiring employees, most hospitality organizations would say that ______.
a. Attitude is more important than skill. b. Knowledge is more important than abilities. c. Abilities is more important than attitude. d. Skills are more important the abilities.
A common method researchers use to identify successful leaders is based on ______.
A. staff turnover B. revenues generated C. levels of complacency D. perceptions of effectiveness
Assume that the annual demand is 10,000 units and the order quantity per order is 1,000 units, then ______.
A. there are 10 orders during the year B. there is one order placed as soon as existing inventory is consumed C. there is one order placed at the end of each month D. this is an indicator that this is not a lean operation