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When and how may a minor ratify a voidable contract

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Reference no: EM131094359

1. If minors engage in a business in the same manner as persons having legal capacity, what is the consequence of their business contracts?

2. What is the obligation of a minor on disaffirming a contract?

3. When and how may a minor ratify a voidable contract?

4. If Gordon, a minor, lies about his age to induce an adult to enter a contract, is he guilty of a tort? Can any resulting contract be enforced?

4. What is the effect in most states of a person being formally adjudicated incompetent?

5. Can a person who has not been judicially declared insane and has only intervals of insanity or delusions make a binding contract?

6. Explain the enforceability of contracts made by people who have become so intoxicated that they cannot understand the meaning of their acts.

Reference no: EM131094359

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