What are the ways in which a minor may ratify a contract? What are the ways in which a minor may disaffirm a contract? What is the effect of a minor misrepresenting age in order to enter into a contract?
Ratification may be express, implied from conduct, or may be through the failure to make a timely disaffirmance. Ratification makes the contract binding from the beginning. Ratification, once effected, is final and cannot be withdrawn. The minor can ratify the contract only as a whole, both as to burdens and benefits. A minor's contract is voidable at his option; he thus has the power to avoid liability. He may exercise his power to disaffirm a contract through words or conduct showing an intention not to abide by it. By the prevailing view in this country, the minor who misrepresented his age may disaffirm the contract. Some states, however, prohibit disaffirmance if a minor misrepresents her age and the adult, in good faith, reasonably relied on the misrepresentation. Other states not following the majority rule either (a) require the minor to restore the other party to the position she occupied before making the contract, or (b) allow the defrauded party to recover damages against the minor in tort.
You might also like to view...
The reduce-market-focus strategy prescribes a defensive strategic market plan that involves narrowing market focus and trimming market share in an effort to improve profit performance
Indicate whether the statement is true or false
If a law firm wishes to start handling a case wherein employees wish to pursue claims against employers for discrimination in the workplace, those attorneys and paralegals will need to become very familiar with the rules and regulations of the:
A) NLRB. B) FTC. C) CFPB. D) EEOC.