When a minor falsely advises the other party that he is of the age of majority and based upon that misrepresentation, the other party enters into a contract with the minor:
a. the minor has lost his right to disaffirm the contract because of the misrepresentation if the adult party in good faith reasonably relied on the misrepresentation.
b. the adult party can recover damages from the minor in tort.
c. the minor is required to restore the other party to the position occupied before the making of the contract.
d. There is no uniform rule. States differ, and depending upon the state, any of the above could be correct.
d
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A) asset B) liability C) fixed asset D) unearned revenue
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Indicate whether the statement is true or false