ISBN: 9780217796194

Purchase of this book includes free trial access to www. million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book:6. A… Plus…

Purchase of this book includes free trial access to www. million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book:6. An offer may lapse without express revocation. If a time is fixed, the expiration of the time revokes the offer. If no time is fixed, the offer lapses after the expiration of a reasonable time; what is a reasonable time must depend upon the circumstances of the case. An offer lapses by the death of either party. Examples: 13. On June I B offers C $50 for a cow. C accepts the offer on August 1. This is not a reasonable time where the parties live near each other. Even a week might be too long. 14. D writes E, " I will sell you my farm for $3000." Before E posts his acceptance D dies. The offer is revoked by D's death. But if E posts his acceptance before D's death the contract is binding upon D's estate. II. Competent Parties 15. Infants. An infant is a person under the age of twenty- one. In many states women become of age at eighteen, and in some they are of age at eighteen, or even younger, if married. A person attains his majority on the day preceding his twenty- first birthday, that is, on the last day of his twenty-first year. If the twenty-first anniversary of one's birthday is November 8, he can vote or make binding contracts on November 7. Contracts made during infancy are voidable1 at the infant's option, exercised either during his infancy or after he attains his majority, subject to these exceptions: (a) contracts for necessaries are binding; (b) contracts made during infancy but ratified after attaining majority are binding. But an infant's contracts are binding uponthe adult with whom they are made; the infant alone can repudiate them at his election. (a) Necessaries include not merely the things necessary to sustain life, but also such additional articles as are suitable to the infant's station in life and to his circumstances when they are. Books Elements-of-Business-Law~~Ernest-Wilson-Huffcut General Books LLC This is an OCR edition without illustrations or index. It may have numerous typos or missing text. However, purchasers can download a free scanned copy of the original rare book from GeneralBooksClub.com. You can also preview excerpts from the book there. Purchasers are also entitled to a free trial membership in the General Books Club where they can select from more than a million books without charge. Original Published by: Ginn & company in 1905 in 362 pages; Subjects: Commercial law; Business & Economics / Business Law; History / General; Law / General; Law / Administrative Law & Regulatory Practice; Law / Business & Financial; Law / Commercial / General;<

ISBN: 9780217796194

Purchase of this book includes free trial access to www. million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book:6. A… Plus…

Purchase of this book includes free trial access to www. million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book:6. An offer may lapse without express revocation. If a time is fixed, the expiration of the time revokes the offer. If no time is fixed, the offer lapses after the expiration of a reasonable time; what is a reasonable time must depend upon the circumstances of the case. An offer lapses by the death of Purchase of this book includes free trial access to www. million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book:6. An offer may lapse without express revocation. If a time is fixed, the expiration of the time revokes the offer. If no time is fixed, the offer lapses after the expiration of a reasonable time; what is a reasonable time must depend upon the circumstances of the case. An offer lapses by the death of either party. Examples: 13. On June I B offers C $50 for a cow. C accepts the offer on August 1. This is not a reasonable time where the parties live near each other. Even a week might be too long. 14. D writes E, " I will sell you my farm for $3000." Before E posts his acceptance D dies. The offer is revoked by D's death. But if E posts his acceptance before D's death the contract is binding upon D's estate. II. Competent Parties 15. Infants. An infant is a person under the age of twenty- one. In many states women become of age at eighteen, and in some they are of age at eighteen, or even younger, if married. A person attains his majority on the day preceding his twenty- first birthday, that is, on the last day of his twenty-first year. If the twenty-first anniversary of one's birthday is November 8, he can vote or make binding contracts on November 7. Contracts made during infancy are voidable1 at the infant's option, exercised either during his infancy or after he attains his majority, subject to these exceptions: (a) contracts for necessaries are binding; (b) contracts made during infancy but ratified after attaining majority are binding. But an infant's contracts are binding uponthe adult with whom they are made; the infant alone can repudiate them at his election. (a) Necessaries include not merely the things necessary to sustain life, but also such additional articles as are suitable to the infant's station in life and to his circumstances when they are. Books, , Elements-of-Business-Law~~Ernest-Wilson-Huffcut, 999999999, The Elements Of Business Law; With Illustrative Examples And Problems, Ernest Wilson Huffcut, Created by General Books, 0217796192, General Books LLC, , , , , General Books LLC<