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BUA 221 CH.1,2,3,4,5 > Chapter 9 Review > Flashcards

Chapter 9 Review Flashcards

1
Q

Capacity of a Contract

A

Legal and mental ability to understand the nature of an enforceable agreement

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2
Q

What is Disaffirmance

A

Refusal from Incompetent party to carry out the term

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3
Q

Minor

A

a person under the age of minority

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4
Q

What is a guardian

A

Court-appointed adult who has custody and care of a incompetence party

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5
Q

Does a Minor have the right to obtain any consideration given to the adult
True or False

A

True

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6
Q

A minor can obtain the property from a minor if given to a third party
True or False

A

False

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7
Q

What is Ratify

A

Approve something

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8
Q

Necessaries

A

Things people need to live, shelter, food

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9
Q

Minors are responsible for payment for necessaries purchased from adults

A

True

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10
Q

Minors obligation to pay are based on the quasi contract

True or False

A

True

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11
Q

What is “Station in Life”

A

person’s economic status

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12
Q

Emancipated Minor

A

Minor not under the control and authority of his or her parents

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13
Q

Parents are liable Minor

True or False

A

False

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14
Q

Are minors liable for torts

A

Yes

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15
Q

Intoxicated persons are liable in quasi contract

True False

A

True

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16
Q

A person legally declared incompetent by a court can be liable for necessaries
True or False

A

True

17
Q

A person only slightly intoxicated is not considered to be an incompetent party
True or False

A

True

18
Q

The contract of mentally ill persons not adjudged incompetent by a court are voidable

A

True

19
Q

A person not adjudged by a court as being incompetent and a person who has been adjucated by a court as being incompetent are both treated legally the same way

A

False

20
Q

If an intoxicated person understands the consequences of contract she made, the agreement is enforceable despite the person’s intoxication

A

True

BUA 221 CH.1,2,3,4,5 (11 decks)

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