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Author Question: A minor may ratify a voidable contract only after attaining majority. ... (Read 94 times)

Davideckstein7

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on: Jun 24, 2018
A minor may ratify a voidable contract only after attaining majority. Explain.

Question 2

An oral agreement to supply a line of credit for two (2 ) years cannot be enforced because of the statute of frauds.
  Indicate whether the statement is true or false


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jennafosdick

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Reply #1 on: Jun 24, 2018
Answer to Question 1

Ratification means indicating one's willingness to be bound by promises made during minority. It refers to a new promise and may be oral, written, or merely implied by conduct. However, some states require it to be in writing. A minor may ratify a voidable contract only after attaining majority. After majority is reached, silence ratifies an executed contract. A minor cannot ratify part of a contract and disaffirm another part; all or none of it must be ratified. Ratification must be made within a reasonable time after reaching majority. A reasonable time is a question of fact to be determined in light of all surrounding circumstances.

Answer to Question 2

TRUE


Davideckstein7

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Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

at

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Reply 3 on: Yesterday
Wow, this really help

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