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Business Law I Ch. 7 test review

Authored by Lorri Goss

Business

10th - 12th Grade

Used 338+ times

Business Law I Ch. 7 test review
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____ is the legal ability to enter a contract.

Fraud

Material fact

Concealment

Capacity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Minors who are no longer under the control of their parents can ask the courts to become ______________.

emancipated

material fact

concealment

capacity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a minor claims to be over the age of majority, then he or she has committed _______.

fact

agreement

convincement

fraud

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Contracts made by minors are __________ by the minor.

voidable

fraud

valid

legally binding

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

After reaching the age of majority, a person can _____, or approve, contrats made during minority.

write

ratify

loss

agreement

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: The law shields minors in the making of contracts.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: The age of majority is 18.

True

False

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