Asked by Raabiah Azeez on Apr 30, 2024
Verified
Ratification is an emancipated minor's willingness to deny contractual obligation.
Emancipated Minor
A legal status granted to individuals under the age of 18, allowing them to enjoy adult rights and responsibilities due to certain circumstances.
Ratification
The principal’s approval of an unauthorized act performed by an agent or by one who has no authority to act as an agent. Also, an approval of a contract made by a minor after reaching maturity.
Contractual Obligation
A legal duty that arises out of a contract, requiring a party to either perform or refrain from performing certain acts.
- Understand the concept of contractual capacity and its implications for minors and mentally incapacitated individuals.
Verified Answer
ZK
Zybrea KnightMay 02, 2024
Final Answer :
False
Explanation :
Ratification refers to the act of a minor, after reaching the age of majority, affirming or accepting a contract that was made when they were still a minor. It is not a minor's willingness to deny contractual obligation.
Learning Objectives
- Understand the concept of contractual capacity and its implications for minors and mentally incapacitated individuals.