Exam 12: Capacity and Legality

If a minor entered into a contract,and then ratified the contract after reaching the age of majority,which of the following is he or she exempt from?

A ratified contract can be disaffirmed even after the minor reaches the age of majority.

Any age below the statutory age of majority is called the period of minority.

If a minor ratifies a contract while still being a minor,the contract cannot be disaffirmed.

People below the age of majority are considered minors.

If the object of a contract becomes illegal after the contract is entered into,the parties are discharged from the contract.

A contract with an intoxicated person is not voidable by the other party if that party had contractual capacity.

Persons who entered into an illegal contract but withdrew before the illegal act was performed can sue to recover consideration.

The term ________ refers to a doctrine that states that the courts will refuse to enforce or rescind an illegal contract and will leave the parties where it finds them.

________ is a rule that states that if a minor has transferred money,property,or other valuables to the competent party before disaffirming the contract,that party must place the minor in status quo.

Which of the following is true of a contract where one of the parties is insane but not adjudged insane?

If a minor ratifies a contract while still being a minor,________.

A(n)________ is a contractual provision that relieves one or both of the parties to a contract from tort liability.

After becoming sober,an intoxicated person can ratify the contracts he or she entered into while intoxicated.

In which of the following situations would the effect of illegality be an exception?

Which of the following would constitute legal insanity?

The court-appointed guardian is the only person who has the legal authority to enter into contracts on behalf of a person who has been adjudged insane.

A ________ is a contract that provides that a seller of a business or an employee will not engage in a similar business or occupation within a specified geographical area for a specified time following the sale of the business or termination of employment.

Preprinted forms whose terms the consumer cannot negotiate,and must sign in order to obtain a product or service are referred to as ________.

Damien,a first-year law student,offers his services to Mr.Jenkins to help draft his will.Mr.Jenkins agrees to Damien's offer,and promises to pay him $400 for his services.Damien completes the draft of the will.But when Damien goes to collect his payment,Mr.Jenkins refuses payment.Damien knew that he had no legal recourse to enforce the contract.What statute had Damien violated in his contract with Mr.Jenkins?