Ryan, a minor, contracted to sell his auto to Ed, a 28-year-old. Ryan later refused to complete the sale. If Ed sues to enforce the contract, Ed will
a. win because Ryan was the seller.
b. win because minors can only avoid contracts for the sale of land.
c. lose, as the contract is void.
d. lose, because the contract is voidable by Ryan.
d
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The discount rate is the
A. targeted inflation rate for an economy. B. ongoing taxation rate in an economy. C. interest rate that the Fed charges on the loans it makes. D. nominal interest rate charged by financial intermediaries when they advance loans.
Marketers must evaluate the appropriateness of connectors in order to
A) calculate precise advertising budgets. B) identify connectors who can write the best press releases. C) find suitable connectors that will reach a firm's target audience. D) impress management, employees and investors. E) find outlets that will not leak trade secrets to competitors.
The straight-line depreciation method and the double-declining-balance depreciation method:
A. Are acceptable for tax purposes only. B. Produce the same depreciation expense each year. C. Produce the same book value each year. D. Produce the same total depreciation over an asset's useful life. E. Are the only acceptable methods of depreciation for financial reporting.
A promissory note:
A. Is a liability to the payee. B. Is a short-term investment for the maker. C. Is a written promise to pay a specified amount of money at a certain date. D. Is another name for an installment receivable. E. Cannot be used in payment of an account receivable.