Asked by cassaundra berbaum on May 26, 2024
Verified
Gibson, a minor, decided to trade his ten-year-old truck on a new car at the local dealership. One week after driving the new car, Gibson decides that he cannot afford the payments. Gibson now wishes to disaffirm his purchase and get his old truck back. The dealer informs Gibson that the truck has been sold. Can Gibson get the old truck back and disaffirm his contract with the dealer? Explain.
Disaffirm
The legal right of a party to deny or reject the validity of a contract or agreement.
Trade
The exchange of goods, services, or both between parties, either within a country or between countries, often for money.
- Grasp the specific context allowing a minor to annul a contractual agreement.
- Acquire knowledge on the legal boundaries and securities associated with transactions involving minors, specifically in the context of purchasing and selling goods.
Verified Answer
SR
skylar robinsonMay 30, 2024
Final Answer :
A contract is voidable at a minor's option. In this case the dealer acquired voidable title to the truck. The UCC, however, provides that a merchant with voidable title can transfer valid title to a buyer in the ordinary course of business. Gibson can disaffirm the contract but cannot get the truck back.
Learning Objectives
- Grasp the specific context allowing a minor to annul a contractual agreement.
- Acquire knowledge on the legal boundaries and securities associated with transactions involving minors, specifically in the context of purchasing and selling goods.
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