When Benjamin was 16, he signed an installment contract to buy a new computer fr

Question

When Benjamin was 16, he signed an installment contract to buy a new computer from Egypt Corp. The contract stated that failure to pay an installment would permit Egypt Corp. to seek the full amount due in one lump sum payment. Benjamin made 2 payments, but then an accident involving nitric acid and a large pizza destroyed the computer, so Benjamin stopped making payments. Can Egypt Corp. obtain the lump sum payment for the remainder of the purchase price? A. Yes, if Benjamin lives in a majority rule state. B.No, because Benjamin's failure to continue making payments constituted an implied disaffirmation of the contract.

Explanation / Answer

Benjamin was not competent to entering into a contact, as his age is below 18 years.

A. Yes , if Benjamin lives in a majority rule state

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