13:32 Question 9 5 pts In determining if there is consideration, the deal is rev

Question

13:32 Question 9 5 pts In determining if there is consideration, the deal is reviewed to make sure both sides receive a good deal. O True O False D Question 10 10 pts Capacity is an element of a valid contract. Choose all that apply O A conservatee lacks capacity O If you are a corporation, you must be in good standing with the State O In most states (California included) you must be over the age of 18 to have capacity to enter into a contract O If a person is incompetent (but not a conservatee] they may enter into a contract D Question 11 5 pts If Joe who is 17 wants to buy your car, you should have his parents sign the contract O True O False 5 pts

Explanation / Answer

1. True. This is because consideration keeps in mind the well being of both the parties to a contract

2. i). If you are a corporation, you must be in a good standing with the state.

ii). In most states(California included) you must be over the age of 18 to have the capacity to enter into a contract.

3). True. This is because Joe must be at least 18 years old in order to take full responsibility of the contracts he signs, until then, it is his guardians(parents in this case) who are the ones who can sign a legal contract on his behalf.

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