Asked by Mikey Grauso on May 05, 2024
Verified
Under the UCC,the ownership rights of individuals who buy goods from minors are void,but they can transfer their otherwise void rights to an innocent third-party purchaser of those goods.
Innocent Third-Party
An individual or entity that is not involved in a legal dispute or transaction but may be affected by its outcome.
- Identify the conditions under which contracts can be disaffirmed by minors.
Verified Answer
LW
Latron WilliamsMay 10, 2024
Final Answer :
False
Explanation :
Under the UCC, a minor's contract for the sale of goods is generally voidable at the option of the minor, not automatically void. An innocent third-party purchaser can obtain valid title to the goods if they purchase in good faith without knowledge of the minor's incapacity.
Learning Objectives
- Identify the conditions under which contracts can be disaffirmed by minors.
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