LSU BLAW 3201 FRY Final Version C

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LSU BLAW 3201 FRY Final Version C Newest 2025 Complete 100 Questions And Correct Answers (Verified Answers) |Already Graded A+||Brand New!!

Wanda at age 17 purchased an expensive stereo system from

Stereo Sales. If Wanda wishes to ratify this contract, Wanda:

• must reach the age of majority and ratify the contract as a

whole.

• may do so by express notification at any time before reaching

the age of majority.

• may at any time keep the stereo but avoid any remaining debt

owed on the stereo.

• may do so at any time by express or implied action before or

after reaching the age of majority. - ANSWER-a

Donald, a minor, makes a contract with Albert, an adult, to buy a computer. One week later, Donald has his eighteenth birthday and shortly thereafter tells Albert he will pick up the computer next week. 1 / 4

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• Donald has expressly ratified the contract.
• The contract must be renegotiated, because Donald was a

minor when it was made.

• Donald can change his mind and avoid the contract, because it

was made when he was a minor.

• The contract is void ab initio, because Donald was a minor at

the time it was made. - ANSWER-a

A contract by which of the following is void?

• A fourteen-year-old girl.
• A thirty-six-year-old man under a court-ordered guardianship

for mental incompetency.

• A thirty-year-old woman who, because of intoxication, is

unable to understand the nature and consequences of signing the contract.

• A twenty-five-year-old woman who is unable to understand

the nature and effect of signing a contract because of a mental illness. - ANSWER-b

When a minor falsely advises the other party that he is of the age of majority and based upon that misrepresentation, the other party in good faith enters into a contract with the minor: 2 / 4

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• the minor has lost his right to disaffirm the contract because

of the misrepresentation.

• the adult party can recover damages from the minor in tort.
• the minor is required to restore the other party to the position

occupied before the making of the contract.

• There is no uniform rule. States differ, and depending upon

the state, any of the above could be correct. - ANSWER-d

Which of the following is correct regarding the contractual liability of incompetent persons?

• An incompetent person's responsibility upon disaffirmance is

the same as for a minor.

• For executed, fair contracts with a mentally incompetent

person who understands but cannot control his behavior to act rationally, the incompetent must restore the competent party to the status quo before the transaction by a return of the consideration received or its equivalent in money.

• The contracts of a person under guardianship by court order

are voidable.

• The contracts of a ward are binding without the approval of

the guardian. - ANSWER-b

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In most states, whether the time within which a minor disaffirms

a contract constitutes a reasonable time is determined by:

• state statute.
• the UCC.
• the facts and circumstances of the case.
• common law, without regard to the unique facts of the case at

hand. - ANSWER-c

The parol evidence rule is an exclusionary rule of evidence. - ANSWER-False

The parol evidence rule only applies to written contracts. - ANSWER-True

The word "parol" literally means release. - ANSWER-False

The parol evidence rule would allow evidence to be introduced to explain what the parties meant by the term "serrated." - ANSWER-True

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