Contract Questions

Mary a self employed 16 year old whose parents are

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Unformatted text preview: ing sold is the division of an existing tract which had been properly recorded. Markus, a prospective buyer, who telegraphed Martin that he would buy at $100,000 and forwarded a $100,000 surety bond to guarantee his performance, has validly accepted. Martin must sell to the highest bidder. Martin’s communication did not constitute an offer to sell. 320. Mary, a self-employed 16-year-old whose parents are dead, buys a dress on credit for $50. After receiving the dress and discovering that its reasonable value is only $25, Mary tries to disaffirm the deal before paying the $50 (and while she is still 16). In this case: a. Mary cannot disaffirm, and she is bound to pay the full $50. b. Mary cannot disaffirm, but she is only bound to pay $25. c. Mary can disaffirm, and she can return the dress without paying for it. d. Mary can disaffirm, and she can keep the dress without paying for it. 321. Mary, age 17, sold Mark, age 22, the briefcase she got for graduation. Mark’s father liked it an...
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This test prep was uploaded on 03/29/2014 for the course BUL 3130 taught by Professor Schupp during the Fall '12 term at UNF.

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