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Chapter 14(1)Assignment

Chapter 14(1)Assignment

Q A contract entered into by a minor is generally voidable 1) What is meant by a voidable agreement? 2) How does a minor avoid an agreement? When is a minor liable?3) What's a necessary? Does this make the minor liable for the full contract price?

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When any contract is entered into by parties without their free consent, it is known as the voidable contract. The description of the act simply highlights that a voidable contract is something legal that is enforceable by law withholding to the option of one or more parties but not at the option received from the other parties. A typical ground for contract which is voidable likely includes coercion, undue influence, misrepresentation as well as fraud. Usually, a contract by a minor party is often considered as voidable but a minor individual is expected to avoid entering into contract particularly during his or her minority status and for a justified time span after he or she is found to reach a proper age of majority (Schaefer, 2010).