Business Law 265: A Case Of Adjudicated Insane

According to the conditions above, what should their monthly payment be? If Kelsey and Cody do not send their payment in on time, what will the following month’s payment be?

Jim and Laura Buyer visit the local car dealership because they are interested in buying a new car. The car they currently have is aging and is starting to have mechanical problems. Jim and Laura would share the new car, and use it to go back and forth to work and school. Before going to the dealership, Jim and Laura decide that they can only afford $400.00 a month in car payments.

"In California, the elements for a viable contract are 1) parties capable of contracting; 2) their consent; 3) a lawful object; and 4) sufficient cause or consideration." In regards to a minor 's capacity to contract, a minor is capable of contracting unless specifically prohibited. However, Section 6710 of the California Family Code states that "except as otherwise provided by statute, a contract of a minor may be disaffirmed by the minor before majority or within a reasonable time afterwards."

they were in possession of alcohol, or had attempted to purchase alcohol, or drank alcohol or

* Minors are defined as individuals under the age of majority to contract. This is the age at which a person is entitled to the management of his/her own estate (18 in most states).

3. She needs to start collecting some money from her son, who lives with her, to be able to improve her cash flow. In the event he does not want to help, she can look for a smaller one-bedroom apartment for herself.

1. Beverly Frost bought a home for $190,000 with a down payment of $19,000 at 7% for 25 years. Since then the rate has risen to 9%. How much more would her monthly payment be if she bought the house at 9%?

Claire is applying for a loan to purchase a pre‐owned car. She is told that the monthly payment for the loan

There’s a line between child and adult, and it can be fuzzy, So how do we in the YellowHammer State define between adults and minors.All states have minor laws, the age in which a citizen is considered an adult in the eyes of the law.In Alabama, has legal process referred to (Emancipation) the legal age is 19 years old; the age of majority Code of Alabama 26-1-1 minors still have legal rights and responsibilities.A 15-year old can enter into an insurance contract, under the Alabama laws.Under Code of Alabama 26-13-1 at age 18 they are eligible for emancipation, in laymen's terms, they are at the age

In this scenario, I envisioned Jenny as a single college student, living alone in an apartment within walking distant from her campus and part-time job. Her car was a high school graduation gift from her parents; therefore, she does not have a car payment expense. She is still covered under her parents’ dental and health insurance plans while attending college so she does not have to allocate money for those expenses either. Garbage and recycling services at her apartment complex are included in her monthly rent. Having access to the internet is vital for her college courses so Jenny could bundle her cable, internet, and landline services for a discount.

Most contracts are valid despite the fact that they may be only oral. Dan was knowledgeable that Pat wanted to buy a home, which she was not financially qualified to purchase. Consequently, he offered to purchase the home and sell it to her, when she had the capital to do so. The statement of Don to Pat, “When you come up with the money, I will sell the home to you for $250,000, plus a fair commission to be determined”, and Pat’s search and identification of a suitable home, and Dan’s purchase supports each intent to be bound.

Ariana (defendant) is 19 and purchased a sofa and framed print from Apartments ‘r’ us (plaintiff) with cash for $1400. She notified the plaintiffs that she wanted to disaffirm the contract which was voidable at her discretion because she is considered an infant under the law of Hollis. The legal age to enter into a contract in Hollis is 20 years old and Ariana is 19 years old. There is no indication that she has been emancipated by marriage, enlistment in any branch of the military, or by court order as would deem her not an infant under Hollis Revised Statutes 12 H.R.S. §(100)(e)(2). None of the items the defendant purchased were necessaries, so the defendant maintains the right to disaffirm. It is unknown whether the sales contract was written. By the Statue of Frauds, the contract should be in writing because it was for the sale of goods worth more than $500. The court will enforce the contract even if it isn’t in writing because the buyer has already accepted the goods and the parties agree that there was a contract at one point. The defendant communicated clear and unequivocal disaffirmance to the plaintiffs. Ariana is requesting rescission and restitution of the sales contract. This would nullify the contract and return both parties to status quo ante. Ariana wants all of her money back and in return she will return as much of the consideration as she has in her possession. It has been confirmed in past cases in other jurisdictions that a minor can

In general, a Minor’s contract is voidable except for contracts related to necessary items. However, there are some specific circumstances that the contract made by a minor is not void, such as the contract of ‘necessary’ or the contract that enables a person to earn a living.

M. H. lives in her own home with her husband and two grandchildren. One of the grandchildren is 25 years old and a college student and the other is 10 years old. Her husband ambulates well without assistance