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Get Full Access to Principles Of Economics - 1 Edition - Chapter 29 - Problem 14
Get Full Access to Principles Of Economics - 1 Edition - Chapter 29 - Problem 14

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What does it mean to say that a currency appreciates Depreciates Becomes stronger

ISBN: 9781938168239 470

Solution for problem 14 Chapter 29

Principles of Economics | 1st Edition

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Problem 14

What does it mean to say that a currency appreciates? Depreciates? Becomes stronger? Becomes weaker?

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Wednesday, October 26, 2016 Business Law 1 Notes From previous sections - Last week we covered the requirements of consideration. And what it means to have legally sufficient value. We also covered what situations are when they are lacking consideration. Chapter 14: Contracts – Capacity and Legality Contractual Capacity: Legal ability to enter a contractual relationship.  A person determined by the court to be mentally incompetent cannot form a valid contract. Minors: Generally, at 18 years, a person is emancipated, and has the legal capacity to enter any contract that an adult can.  However, a contract entered by a minor is voidable at the option of that minor and can be disaffirmed.  Disaffirmance: Contract can be disaffirmed at any time during minority, or for a reasonable period after the minor is emancipated. o Minor must disaffirm the entire contract. o Disaffirmance can be expressed or implied. o Majority Rule: minor need only return the goods (or other consideration) subject to the contract, provided the goods are in the minor’s possession or control.  Increasing number of states hold the minor, must restore the adult to the position held before the contract was made. o Exceptions: Misrepresentation of age.  Generally, a minor can disaffirm the contract, but some states prohibit the disaffirmance and hold the minor liable.

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