Contract Questions

C percy cannot disaffirm the contract and he is

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: law. b. legally binding on both parties. c. voidable at Payne’s option. d. voidable at Steven’s option. 367. Percy is a rich boy whose parents supply him with every conceivable necessity of life. While still a minor, Percy buys a coat on credit from a men’s store for $5000. After wearing the coat for a while, Percy decides that it bores him and that he’d like to disaffirm. Which of the following is MOST likely to be true? Assume that Percy is still a minor. a. Percy can disaffirm the contract, and he must return the coat. b. Percy cannot disaffirm the contract, but he only is liable for the reasonable value of the coat. c. Percy cannot disaffirm the contract, and he is liable for the full price of the coat ($5000). d. Percy can disaffirm the contract and he need not return the coat. 368. Phil Fairbanks was approached by Nickle Corporation to write the history of Nickle for $15,000. The president of Nickle told Fairbanks the job was his if he would agree to cleverly defame its leadi...
View Full Document

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.

Ask a homework question - tutors are online