Which of the following is a false statement? State licensing statutes require ce

Question

Which of the following is a false statement?

State licensing statutes require certain professionals and occupations to be licensed by the state in which they practice.

Usury is the charging of excessive rates of interest.

A minor may ratify a contract at any time during minority and for a reasonable time after reaching the age of majority.

Minors are liable for the contract price of any necessaries of life for which they contract.

State licensing statutes require certain professionals and occupations to be licensed by the state in which they practice.

Usury is the charging of excessive rates of interest.

A minor may ratify a contract at any time during minority and for a reasonable time after reaching the age of majority.

Minors are liable for the contract price of any necessaries of life for which they contract.

Explanation / Answer

D. Minors are liable for the contract price of any necessaries of life for which they contract.

Minors are liable for the reasonable price not the contract price of any necessary they purchase whether good or services.

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