Which of the following is correct about contracts entered into by insane persons quizlet?
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Life insurance, health insurance, and psychological counseling. Show
Primarily for public policy reasons, in most states, courts or state legislatures have determined that the minor should not have the right to disaffirm contracts for life insurance, health insurance, psychological counseling, the performance of duties related to stock and bond transfers and bank accounts, education loan contracts, child support contracts, marriage contracts, and enlistment in the armed services. Recommended textbook solutions
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Calculus for Business, Economics, Life Sciences and Social Sciences13th EditionKarl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett 3,913 solutions Which of the following is correct regarding a contract entered into by an intoxicated person?If the intoxicated person enters into a contract, she must disaffirm the contract within a reasonable time of regaining capacity and learning of the contract. If she fails to do so within a reasonable time, she has ratified the contract and will be bound.
Which of the following is true of contracts entered into by minors quizlet?A minor may generally disaffirm a contract any time before reaching the age of majority. A minor may generally disaffirm a contract within a reasonable time after reaching the age of majority so long as she has not ratified the contract.
Which of the following is a characteristic of a valid contract?The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.
Which of the following is true of a contract the object of which has become unlawful after the creation of the contract?Which of the following is true of a contract, the object of which has become unlawful after the creation of the contract? The contract is still legal as the object was legal at the time of creating that contract. The parties of the contract will be discharged from that contract.
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