SOLVED

21) A person who has legal ________ to contract is one who has the mental ability to understand his or her rights and obligations under a contract and, therefore, will presumably be able to understand how to comply with the terms of the agreement. A) Capacity B) Understanding C) Consideration D) History E) Ratification 22) When someone has some sort of mental or physical defect that prevents him or her from being able to enter into a legally binding contract, what term is used? A) Capacity B) Immajority C) Chronic illness D) Terminal illness E) Incapacity 23) In most states a person is given full legal capacity to enter into contracts when he or she becomes before reaching the age of majority. A) Released B) Emancipated C) Employed D) Freed E) Acknowledged 24) Which of the following occurs when a minor’s parents or legal guardians give up their right to exercise legal control over the minor, typically when the minor moves out of the parents’ house and begins supporting himself or herself? A) Ratification B) Reaffirmance C) Legal release D) Disaffirmance E) Emancipation 25) When a minor gets married, she or he is considered ________ in most cases. A) Disaffirmed B) Released C) Freed D) Emancipated E) Either freed or disaffirmed depending on the circumstances  Â