Belinda is a 17 year old college student. She enters into a written contract wit

Question

Belinda is a 17 year old college student. She enters into a written contract with Steve, an adult, for the purchase of Steve’s 1964 Corvette for $2,000. The performance of the contract will occur in one week, when Belinda reaches her 18th birthday. The day after signing the agreement, it dawns on Steve that he made a bad deal, since the classic car is worth many times his asking price. Steve calls Belinda and informs Belinda that he wishes to disaffirm the contract. Belinda is furious and says she expects Steve to keep his word and turn over the car when promised. If Steve refuses to turn over the car as promised, may Belinda successfully Steve for damages, or will Steve be able to successfully assert his disaffirmance of the contract? Explain.

Explanation / Answer

Their are 2 parties name Belinda and Steve they have signed the contract but in this case Steve is a Matured man and under the law can sign and make a contract as per the law. Whereas Belinda has not attained the age of 18 years and if she is making a contract she will have trouble and as per the law is liable for prosecution. However in the above case their is 1 week left for Belinda to attain the age of 18 years than also she is liable to be prosecuted this depends on Steve to see that wheather he want to file a case or else he can forego the case.Steve cannot claim and file for receiving the damages as the contract was during the period when the person had not attained the age of 18 permissable as per the law.

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.