blaw3 - Anna is 88 years old and under the legal...

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Anna is 88 years old and under the legal guardianship of her daughter. One day Anna receives a call from health insurance salesman and purchases a $400/month MedaGap insurance policy. C. This contract is void. Fay age 17 orders a pair of skis on the installment plan. She gave $20 every month until she was 18, the age of majority. The next day she sold them to Sharon and disaffirmed the contract. What result? B. Fay is liable because selling the skis amounts to ratification. Ann, a minor, disaffirmed her agreement to buy $127 worth of cosmetics from Facial Co. She had used all the eye shadows, lipsticks and powders. The general rule is that… B. She may disaffirm but she has to return the make-up that is not used up. Mary, age 17, sold Mark, age 22, the briefcase she got for graduation. Mark’s father liked it and bought it from him. If Mary decides to disaffirm the contract will Mark’s father have to return the briefcase to her? D. No, if Marks father bought it without knowing Mary is a minor. Chris a 17 year old college freshman signed the agreement that he would be responsible for the damage caused to the athletic equipment caused by his negligence. If he slams a tennis racket into the ground and breaks it, will Chris be liable for his negligence. A. No, because it would mean enforcement of the contract. Tim, who is a minor, enters a contract with Violet who is an adult. Which of the following is correct? A. Violet may not disaffirm the contract. Don and minor, contracts to sell a car to Jerry who is also a minor. Don reaches the age of 21 as does Jerry. Don takes no action to avoid the contract but continues to use the car. Which of the following most accurately describes the status? A. Don has ratified the contract. Steve purchases a 4-wheel drive truck from Belk Ford. Steve is only 17 years of age he wrecks the vehicle and attempts to disaffirm the contract and have Belk Ford repay all that he has just paid. In the majority of jurisdictions what would happen. D. Steve may simply return the vehicle and get his money. Randy is a minor buys a new 4WD truck from Jones Ford. Randy sells the truck to his cousin, Steve, who is an adult. Steve conveys this vehicle to Arthur Smith. Arthur does not personally know Steve or Randy. Which of the following expresses the status of the situation? B. Randy may not recover the vehicle from Mr. Smith Robert Briscoe is a 17 year old who lies to Belk Ford in order to induce them to sell him a new pickup. Belk falls for the lie and sells him the pickup. In most jurisdictions, which of the following is correct? A. Robert may disaffirm and get his money back. Which of the following is not true regarding the contracts of incompetent persons? B. unlike a minor, an incompetent person cannot ratify a contract. Which of the following is not true regarding the contract of intoxicated persons?
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This test prep was uploaded on 04/22/2008 for the course BLAW 1 taught by Professor All during the Spring '08 term at Texas Tech.

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blaw3 - Anna is 88 years old and under the legal...

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