QUESTION 1

1. Failure to disaffirm an executory contract within a reasonable time after reaching the age of majority implies ratification.

   True

   False

10 points

QUESTION 2

1. If a person enters into a contract with an unlicensed professional, the contract will always be unenforceable.

   True

   False

10 points

QUESTION 3

1. When a statute protects a certain class of people, a member of that class cannot enforce an illegal contract.

   True

   False

10 points

QUESTION 4

1. Most courts are usually very concerned about the fairness of contracts.

   True

   False

10 points

QUESTION 5

1. If an illegal contract has been executed, a court may require the parties to return each other to the positions they held before the contract.

   True

   False

10 points

QUESTION 6

1. Food, clothing, and shelter are the only things that the courts have been willing to define as being "necessaries."

   True

   False

10 points

QUESTION 7

1. When both parties to a contract are minors, neither of them may disaffirm the contract.

   True

   False

10 points

QUESTION 8

1. A person who is intoxicated when he or she signs a contract can avoid the contract only if his or her intoxication was involuntary.

   True

   False

10 points

QUESTION 9

1. Parents who sign a contract made by their minor child with an adult have the same option to disaffirm as the child.

   True

   False

10 points

QUESTION 10

1. A minor normally is permitted to disaffirm a contract for the purchase of necessaries but remains liable for the reasonable value of the goods.

   True

   False