Subject: Business Law

Answer the following questions briefly and with reason;

Short Questions:

Q1: When is a person competent to contract?

Q2: When does a minor attain the age of majority?

Q3: Can a minor plead minority when he has misrepresented his age?

Q4: Can a minor be declared insolvent?

Q5: Can a minor act as an agent?

Long Questions:

Q1: Define the term misrepresentation. What is its effect on a contract?

Q2: Distinguish between;

• Coercion and undue-influence
• Misrepresentation and fraud