Which of the following is the most accurate statement about a mentally impaired person's capacity to contract? Multiple Choice None of the parties to a contract can enforce the contract it before they entered the contract, one of the parties was judged by a courtie, adjudicated to be mentally incompetent A person can disaffirm a contract if the other party to the contract suffers from a mental impairment A person with a mental impairment lacks the capacity to contract, even if the impairment does not affect their ability to understand and evaluate the contract If a person has a mental impairment that deprives him of capacity of the time he enters into a contract the person can never have capacity to ratify the contract at a later time If an intoxicated person enters into a contract, which of the following is correct regarding the person's capacity? Multiple Choice A person's capacity to contract depends on his level of Intoxication at the time he entered the contract (not before or after). Intoxicated people can disaffirm contracts, but must pay for the reasonable value of any necessary If one of the porties to a contract is intoxicated, none of the parties con enforce the contract, A person can only avoid a contract if his intoxication is caused by alcohol (not other drugs) A person can disafirma contract only if all of the parties to the contract were intoxicated at the time they enter into it Which of the following statements about a mentally Impaired person's capacity to contract is correct? Multiple Choice 9 Lack of capacity can be caused by any type of temporary or permanent mental illness, injury, disease or defect To avoid a contract, a person must be declared mentally incompetent by a court o Lack of capacity can be caused only by permanente, non curable) mental illness, injury, disease, or defect All contracts by people with mental impairments are vold rather than voldable a person is declared mental incompetent by a court after entering into a contract the contract is not voidable by the person's guardian A minor who contracts for a necessary: Multiple Choice Must pay the reasonable value for any necessary that the minor has received. Must pay the reasonable value for any necessary, even if the minor has not yet received it. Cannot enforce the contract against the other parties to the contract Must pay the contract price for any necessary that the minor has received Cannot disaffirm the contract. Which of the following is the most accurate statement of an intoxicated person's capacity to contract? Multiple Choice A person lacies capacity if he enters into a contract while intoxicated that he would not have entered into when sober A person locks capacity if his level of intoxication affects his judgment in entering into the contract A person lacks capacity if he is too intoxicated to understand the nature of the contract A person locks capacity if he exceeds the legal limit for Intoxication A person tacks capacity if he is too Intoxicated to understand the nature of the contract and the other parties to the contract have reason to know it A minor who misrepresents his age upon entering a contract: Multiple Choice Will be able to disaffirm the contract in every state, and will not be required to pay for any losses that the minor caused O will not be able to disaffirm the contract in any state May or may not be able to disaffirm the contract, depending on the state in which the contract was entered into Can neither disaffirm nor enforce the contract because oll such contracts are vold Will be able to disaffirm the contract in every state, but must pay for any losses that the minor caused Which of the following statements is correct about when a minor may ratify a contract? Multiple Choice Never, because contracts by minors are vold, not voidable. As soon as the minor turns 18 years old, Within a reasonable period of time after turning 18 years old. While the minor is still a minor As soon as the minor is able to understand the contract