In: Finance
The purpose of the right to disaffirm a contract is to:
a) recognize the legitimate interests of those who contract with minors
b) protect minors
c) restore persons to positions they held before contracting
d) ratify a contract and make it enforceable
Ans : Protect Minors
Explanation:
The intent to avoid the contract is called disaffirmance. If a
minor wants to avoid a contract, he needs clearly state his
intention of not to be bound by the contract. Such disaffirmance of
the contract can be given by words or actions.
Some salient features of Disaffirmance are as follows:
So , accordingly it may be concluded that the purpose of the right to disaffirm a contract is to protect minors.