Final answer:
The right of disaffirmance in contracts by minors may be prohibited if there is misrepresentation of age. Minors must pay for the value of necessaries, which are essential goods and services. Ratification of a contract can occur once the individual reaches the age of majority, usually 18 years old.
Step-by-step explanation:
When addressing exceptions to the basic rules of disaffirmance in contracts, there are specific factors and conditions to consider:
- Misrepresentation of age - Many jurisdictions may prohibit the right of disaffirmance if a minor intentionally misrepresents their age to appear as an adult. This is intended to prevent minors from taking advantage of their minority status after deceiving others about their age to enter into contracts.
- Necessaries - While minors may disaffirm contracts for non-essential items, they remain responsible for the value of necessaries which include goods and services essential to their wellbeing like food, clothing, and shelter. A minor must usually pay a reasonable value of the necessaries consumed, not necessarily the contract price.
- Ratification - A person can ratify a contract they entered into as a minor upon reaching the age of majority, which is typically 18 years old in many jurisdictions. After this milestone, the individual can decide to confirm the contract and, consequently, become fully liable for its terms.
Understanding these exceptions to disaffirmance helps maintain a balance between protecting minors from exploitation and upholding contract integrity when dealing with necessaries or situations involving intentional misrepresentation.