Asked by Noelle Buban on May 28, 2024
Verified
A minor has the right to recover any consideration,including goods transferred to third parties.This includes even good faith purchasers.
Consideration
In contract law, consideration refers to something of value exchanged between parties as part of an agreement.
Good Faith Purchasers
Individuals who buy property without knowledge of any existing claims or issues, often protected by law.
- Understand the obligations and limitations associated with contracts made by minors.
Verified Answer
IH
Isaac HastingsMay 30, 2024
Final Answer :
False
Explanation :
Under section 2-403 of the Uniform Commercial Code,a minor cannot recover goods transferred to a good faith purchaser.
Learning Objectives
- Understand the obligations and limitations associated with contracts made by minors.