Describe the infancy doctrine with reference to legal contracts
What will be an ideal response?
Minors do not always have the maturity, experience, or sophistication needed to enter into contracts with adults. To protect minors, the law recognizes the infancy doctrine, which gives minors the right to disaffirm most contracts they have entered into with adults. This right is based on public policy, which reasons that minors should be protected from the unscrupulous behavior of adults. Under the infancy doctrine, a minor has the option of choosing whether to enforce a contract. The adult party is bound to the minor's decision. If both parties to a contract are minors, both parties have the right to disaffirm the contract.
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An agreement to modify a contract for the sale of goods that is not supported by consideration: ______
A) is only binding if supported by consideration. B) is binding as long as it's voluntary. C) is only binding if the original contract is invalid. D) is binding only if enforced by a court.
Better operational decisions can be made by integrating forecasting with value chain and capacity management systems
Indicate whether the statement is true or false