1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lara [203]
3 years ago
11

Tommy McCartney is a sixteen-year-old high school student. He has worked forty hours per week at the local convenience store ove

r the last year, and has diligently saved $6,000 for the purchase of his first car.While visiting a local car dealership, Tommy finds the "car of his dreams," a used yellow Camaro. Tommy walks into the dealership, announces to the dealership owner that he is "ready to buy," negotiates $6,000 as the purchase price, and leaves the dealership a proud car owner.Over the course of the next six months, Tommy drives the Camaro eight thousand miles, wears the tires thin, dents the left front fender, and regrets his purchase. He realizes that in two short years college will beckon, and he knows that his parents cannot afford to pay for his higher education. In short, he wants his money back.On a Saturday morning, Tommy returns to the car dealership, walks into the sales office, and hands the keys to the seller, asking for the return of his $6,000. The dealer chuckles, and then his look turns stern, saying "Son, I don’t owe you anything. You’ve just learned a lesson in the ‘School of Hard Knocks.’ The car is still yours, and the money is still mine!"Who will prevail? Is it legal and/or ethical to allow Tommy to escape his contractual obligations?
Business
1 answer:
Kay [80]3 years ago
4 0

Answer: Yes,it is legal and or ethical to allow Tommy to escape his contractual obligations.

Explanation:

A contract is an agreement made between two or more persons which the court of law can enforced. Under the law of contract, one of the essential elements of a valid contract is capacity, which states that a person must be of legal age before such a person can enter into a contract. For example a legal age is 18 years. In a law of contract any contract enter into with a minor is null and void according to the law. The exception to this rule is when a minor enter into a contract for the supply of necessity such as food and clothing. It is evidence that Tommy McCartney is 16 years old as at the time of entering into the contract for the purchase of the car from the store. In this case, by virtue of being a minor he does not have the backing of the law to enter into the contract for the purchase of the car from the store as at the time he does so.

Therefore, based on this legal point ,the contract is voidable.Tommy money must be returned to him because the contract between him and the store is null and void.It is therefore legal to allow Tommy to escape his contractual obligations

You might be interested in
A parents' group in a small town formed an unincorporated association to run a little league soccer team. Alex was elected presi
Keith_Richards [23]

Answer:

The only person liable for the goods purchased is Alex because he was the person that made the purchases.

Explanation:

Alex is to be held liable because he was authorized to make the purchase. A single member of an unincorporated association is liable for the debts of the organization if they are given authorization to execute a specific act which is seen in this case here.

6 0
3 years ago
What does the term human capital refer to?
aivan3 [116]
It means different skills in the knowledge of workers
5 0
3 years ago
Read 2 more answers
Cedar Designs Company, a custom cabinet manufacturing company, is setting standard costs for one of its products. The main mater
Anna007 [38]

Answer:

$29.00

Explanation:

Direct labor time standard consists of basic time plus allowance for breaks, downtime and rejections.

The direct labor standard cost per hour will be a combination of all factors relating to labor:

Carpenters' wages are $20.00 per hour.

Payroll costs are .............$3.00 per hour,

and benefits are .............$6.00 per hour.

Standard labor cost IS..$29.00 per hour.

7 0
3 years ago
Consider the market for pens. Suppose that increased medical concerns over lead pencils have led schools to steer away from penc
LiRa [457]
Answer: False

Explanation:
Being able to determine the effect on price would have to be circumstantial
4 0
3 years ago
Steadigen Company sells two generators long dash Model A and Model Blong dashfor $ 432 per unit and $ 410 per unit, respectively
ch4aika [34]

Answer:

False

Explanation:

Contribution margin per unit = Sales -  variable cost

Contribution margin per unit (Model A) = $432 - $404

Contribution margin per unit (Model A) = $28 per unit

Contribution margin per unit (Model B) = $410 - $304

Contribution margin per unit (Model B) = $106 per unit

False, Contribution margin per unit (Model B) is higher so,  motivated to push sales of Model A will be false.

Break-even in units = Fixed cost / Contribution margin per unit

Break-even in units (Model A) =  Fixed cost / $28

Break-even in units (Model B) =  Fixed cost / $106

6 0
2 years ago
Other questions:
  • Which of the following is not a benefit of using advertising to promote a product or service?
    8·1 answer
  • In calculating the unemployment rate, "discouraged" workers who are not actively seeking employment are
    9·1 answer
  • What document is necessary to get through the security checkpoints at airports?
    5·1 answer
  • Classify the following topics as relating to microeconomics or macroeconomics.
    12·1 answer
  • Please help! The marginal revenue product of the second worker is
    10·1 answer
  • Describe each term below and provide an example of a company (real or imagined) that uses this concept. Describe how it impacts
    11·1 answer
  • To effectively communicate with a public, it is important to recognize that ________. all publics have overlapping organizationa
    7·1 answer
  • A firm that must invest in new information systems capabilities in order to comply with federal legislation is investing to achi
    12·1 answer
  • Sherry is known for being very task oriented in her approach to manage subordinates. Which at the following statement is noot li
    10·1 answer
  • Rohan wants to buy part of a company, and is interested in stocks. He knows that his favorite company, Apple, is traded on the s
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!