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| 1 | |
Jay, age 16, purchases a new sports car with his inheritance from his grandfather. Nine months later he wrecks the car, which is a total loss. What are Jay's disaffirmance rights in most states? |
| | A) | He may disaffirm. |
| | B) | He may disaffirm but must pay nine months rental value. |
| | C) | He may disaffirm but must pay the salvage value of the car. |
| | D) | He may not disaffirm. |
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| 2 | |
LaVall, age 18, lives in a state in which the age of adulthood is nineteen. May she legally vote in a U.S. Presidential election? |
| | A) | No, since adulthood in her state is nineteen. |
| | B) | Yes, since she is eighteen. |
| | C) | No, since it would be an unreasonable burden to separate federal and state elections. |
| | D) | Yes, since she pays federal income taxes on her wages. |
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| 3 | |
A minor may become emancipated by _____. |
| | A) | giving up all parental support |
| | B) | a legally sanctioned court procedure |
| | C) | giving up all parental support or by a legally sanctioned court procedure |
| | D) | only becoming married or joining the armed forces |
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| 4 | |
What constitutes as necessary _____. |
| | A) | is the same for all minors |
| | B) | varies according to local standards |
| | C) | varies according to the age of the minor |
| | D) | varies according to the minor's social status |
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| 5 | |
Leo, age 16, has his wisdom teeth removed by Jane, a local dentist. Jane charges Leo $1,200 while most dentists would have charged $900. Leo must pay _____. |
| | A) | $1,200 |
| | B) | $1,050 |
| | C) | $900 |
| | D) | nothing if he disaffirms the contract |
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| 6 | |
Margarita does not like the dinner her parents have prepared and leaves the house to purchase a $50 steak dinner at a local restaurant. How much must Margarita's parents pay the restaurant if Margarita refuses to pay anything? |
| | A) | $50 |
| | B) | a reasonable price |
| | C) | an amount to be determined in arbitration |
| | D) | nothing |
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| 7 | |
Hector, age 16, decides to get free use of a computer by purchasing it and later disaffirming the contract. Hector is using minority as _____. |
| | A) | a sword |
| | B) | a shield |
| | C) | both a sword and a shield |
| | D) | neither a sword or a shield |
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| 8 | |
A minor may disaffirm a contract _____. |
| | A) | only while a minor |
| | B) | only after becoming and adult |
| | C) | both while a minor and after becoming an adult |
| | D) | only with the permission of a court |
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| 9 | |
Which of the following circumstances always produces a lack of contractual capacity? |
| | A) | mental retardation |
| | B) | brain damage |
| | C) | drinking |
| | D) | appointment of a guardian |
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| 10 | |
Vonnie appeared normal but in fact is mentally incompetent. If she decides to disaffirm a contract, Vonnie _____. |
| | A) | has no obligation beyond disaffirming |
| | B) | must return all consideration received |
| | C) | must pay a reasonable price for any goods or services she received |
| | D) | must petition a court for permission to disaffirm |
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