Set: Business Law- Consideration

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All 14 Terms

Term Definition
Capacity the legal ability to enter into a contract
Rebuttable Presumption the assumption that another person has the capacity to contract
people who have the right to disaffirm a contract minors, people with mental impairments, people under the influence of drugs or alcohol
Mental Impairment could be an injury,a physical problem that exists from birth,physchological problem that was recently diagnosed
Doctors determine if an individual is mentally impaired
Minor person who has not reached the age of majority
Age of Majority person who has reached the age of adulthood
18 years old Age of majority
Emancipated Minor one who is no longer under the legal control of his or her parents
Fraud minors who claim to be adults are committing a ________
Judge or Jury a decision as to whether a person was intoxicated when signing a contract is made by a ________
Disaffirm a contract means to show the intent not to live up to the contract
Ratification the act of agreeing to go along with a contract that could have been avoided. can be done by words or actions, spoken or written
parens patriae doctrine holds that the state can act as a child's parent when a natural or adoptive parents cannot or will not perform their parental duties

Set Information

Terms 14
Creator kegcwt
Created October 26, 2007
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Most Missed Words

  1. parens patriae doctrine → holds that the state can act as a child's parent when a natural or adoptive parents cannot or will not perform their parental duties - 10 misses
  2. people who have the right to disaffirm a contract → minors, people with mental impairments, people under the influence of drugs or alcohol - 9 misses
  3. Disaffirm a contract → means to show the intent not to live up to the contract - 8 misses
  4. Rebuttable Presumption → the assumption that another person has the capacity to contract - 7 misses
  5. Emancipated Minor → one who is no longer under the legal control of his or her parents - 7 misses
  6. Mental Impairment → could be an injury,a physical problem that exists from birth,physchological problem that was recently diagnosed - 5 misses
  7. Doctors → determine if an individual is mentally impaired - 5 misses