In a contract made by a minor, Select one: a. adult parties bound to the contract cannot disaffirm the contract b. the minor does not have the right to disaffirm the contract c. his/her siblings who are also minors can disaffirm the contract on his/her behalf d. the minor can disaffirm the contract at any time, even after attaining majority When a person has been adjudicated insane, Select one: a. the contract is considered voidable if he or she entered a binding contract during a lucid moment b. most states hold that the contracts of such persons are not voidable c. the court appoints a guardian or conservator for the person's estate d. the court says that such a person is not liable for any value of necessaries x An honest dispute about the existence or amount of a debt makes the debt a(n) one. Select one: a. unliquidated b. illusory c. liquidated x d. nominal The requirement of requires a promisee to pay the "price" the promisor asked for in order to gain the right to enforce the promisor's promise. Select one: a. promissory estoppel x b. equity c. consideration d. forbearance When parties fail to expressly agree on the terms of a sales contract, Select one: a. the contract is automatically void. X b. the contract will fail if the court finds that the parties are acting as though they have a contract and it is impossible to point to a particular moment in time when the contract was created. c. the contract will not be enforceable under the Uniform Commercial Code (UCC). d. the contract will not fail if the court finds that the parties intended to make a contract and that their agreement is complete enough to allow the court to reach a fair settlement of their dispute