Business, 22.07.2020 19:01 Dkhaurithompson

Capacity to Contract In a state in which the age of majority for contracting purposes is 18, 17-year-old Daniel was married, employed, and living with his wife in their own apartment. Daniel and his wife went to Mattox Motors, a used car dealership, and purchased a used car for $500 cash. After driving the car for several months, Daniel was involved in a serious collision and damaged the car. He was one week over the age of 18 at this time. The next day, Daniel sent a letter to Mattox Motors stating that he was disaffirming the sales contract because he was underage at the time he entered the contract, and that he wanted his money back.
A. Does Daniel have the right to get out of the contract?
B. Does Mattox Motors have to give him his money back?
C. Would it make a difference if Daniel had used the car to earn a living?
D. If, instead of being a minor at the time the contract was made, Daniel had been mentally disabled or intoxicated, would he have the right to get out of the contract?
E. Is it ethical for Daniel to disaffirm the contract after having wrecked the car?

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 21:00

The following accounts appeared in recent financial statements of delta air lines. identify each account as either a balance sheet account or an income statement account. for each balance sheet account, identify it as an asset, a liability, or stockholders' equity. for each income statement account, identify it as a revenue or an expense. item financial statement type of account accounts payable balance sheet advanced payments for equipment balance sheet air traffic liability balance sheet aircraft fuel (expense) income statement aircraft maintenance (expense) income statement aircraft rent (expense) income statement cargo revenue income statement cash balance sheet contract carrier arrangements (expense) income statement flight equipment balance sheet frequent flyer (obligations) balance sheet fuel inventory balance sheet landing fees (expense) income statement parts and supplies inventories balance sheet passenger commissions (expense) income statement passenger revenue income statement prepaid expenses income statement taxes payable balance sheet

Answers: 1

Answer

Business, 22.06.2019 06:30

Select all that apply. select the ways that labor unions can increase wages. collective bargaining reducing the labor supply increasing the demand for labor creating monopolies

Answers: 1

Answer

Business, 22.06.2019 21:00

At present, the united states has an embargo against north korea because a. the two countries have extremely poor political relations. b. north korea will not adopt a capitalist government. c. north korean products are too difficult to use. d. north korea has an embargo on american products. e. products from north korea are in higher demand than american-made products.

Answers: 2

Answer

Business, 22.06.2019 22:50

Clooney corp. establishes a petty cash fund for $225 and issues a credit card to its office manager. by the end of the month, employees made one expenditure from the petty cash fund (entertainment, $20) and three expenditures with the credit card (postage, $59; delivery, $84; supplies expense, $49).record all employee expenditures, and record the entry to replenish the petty cash fund. the credit card balance will be paid later. (if no entry is required for a transaction/event, select "no journal entry required" in the first account record expenditures from credit card and the petty cash fund.

Answers: 2

Answer

You know the right answer?

Capacity to Contract In a state in which the age of majority for contracting purposes is 18, 17-yea...

Questions