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
Kazeer [188]
3 years ago
5

Riley, age 16, and Samuel, age 36, enter into a contract in which Riley will sell Samuel his car for $11,000. The next day, Samu

el decides he no longer wants the car and tries to get out of the contract. Samuel argues that because Riley is a minor, the contract is void. If Riley wants to enforce the contract, will he be able to?
Business
1 answer:
Olin [163]3 years ago
3 0

Answer: The answer is that Riley cannot enforce the contract because he is a minor.

Explanation:

Contract is an agreement between two or more individuals which is enforceable by the law. For a contract to be considered valid in law it must contain some essential elements such as the following

Offer: This is the person who is making the offer in the contract agreement, known as the offeror

Acceptance : This is the person who is willing to accept the offer, known in this case as the offeree.

Consideration : The law states that, all simple contract must be supported by value consideration known as price.

Intention to create legal relations :The parties in contract must agree to enter into a legal relationship as regard the contract.

Capacity : The law also states that, The parties in contract must be capable of entering into contract at the time of coming into the contract. In other words, the person must be of age of 18 years and above.

Legality : The contract must not contrary to the law , it must be seen to be legal according to the law .

Therefore, in the question under review, Riley is 16 years, by law he is a minor, he has not fulfilled one of the essential elements of a valid contract which is capacity. The law states that, any contract enter into with a minor is null and void according to law.because, as at the time of entering into the contract such a minor is not capable of entering into the contract. Therefore, Riley will not be able to enforce the contract because he is a minor.

You might be interested in
Which of the following terms refers to a cloud computing feature that allows for automatic allocation of computing resources in
slega [8]

Answer: A - Rapid elasticity

Explanation: Rapid elasticity is a cloud computing term for scalable provisioning, or the ability to provide scalable services. It allows users to automatically request additional space in the cloud or other types of services.

Those who provide guidelines for cloud computing recommend tools like monitoring and audit trails to tightly control all of the diverse requests and transactions that happen in the provision of cloud services, and the rapid elasticity that provides so much benefit to those who use the cloud.

7 0
3 years ago
True or false All 50 states have approved charter school.
nadezda [96]
False it is not a true statement.
3 0
3 years ago
Read 2 more answers
the change from traditional manufacturing to service and high-tech manufacturing requires highly job skills.
valentina_108 [34]

Answer:

Technical

Explanation:

8 0
2 years ago
Which of the following factors is unique to B2B buying and is not typically found in B2C buying?
Arisa [49]

Answer:

There are limited number of large buyers, often geographically

Explanation:

3 0
3 years ago
Blue Spruce, Inc. is considering purchasing equipment costing $72000 with a 6-year useful life. The equipment will provide annua
Stella [2.4K]

The approximate internal rate of return for this investment is $0.054.

<h3><u>What is rate of return?</u></h3>
  • The net gain or loss of an investment over a given time period, stated as a percentage of the investment's starting cost, is known as a rate of return (RoR).
  • You determine the percentage change from the start of the period to the end when computing the rate of return.
  • Any type of investment instrument, including real estate, bonds, equities, and fine art, can be subject to a rate of return (RoR).

Any asset can be used with the RoR as long as it is purchased once and generates cash flow at some point in the future. The attractiveness of various investments can be determined, in part, by comparing their historical rates of return to those of comparable assets.

We have, (Net Annual cash inflow x PV of an Annuity of 1 at 10%) - Initial Investment = Net present value (find closest to zero))

($17,514 x 4.111) = $72000.054 - $72,000 = $0.054 (closest to zero).

Know more about rate of return with the help of the given link:

brainly.com/question/24232401

#SPJ4

6 0
1 year ago
Other questions:
  • Carol was preparing for the next employee appraisal at her company. She already had her work accomplishments documented and read
    6·2 answers
  • The price of DVDs​ (D) is ​$20.00 and the price of CDs​ (C) is ​$20.00. Phillip has a budget of ​$100.00 to spend on the two goo
    15·1 answer
  • A homeowner in a sunny climate has the opportunity to install a solar water heater in his home for a cost of $2900. After instal
    15·1 answer
  • The corporation's task environment: a. encompasses the physical working areas of the organization. b. includes those elements or
    12·1 answer
  • Dorothy Koehl recently leased space in the Southside Mall and opened a new business, Koehl's Doll Shop. Business has been good,
    12·1 answer
  • a body of the letter is composed of the: a. purpose, audience, context. b. address, salutation, and closing. c. introduction, su
    7·2 answers
  • Max Company allocates overhead based on direct labor hours. It allocates overhead costs of $13,800 to two different jobs as foll
    5·1 answer
  • costs that a firm remaining in business will still incur even if it halts current production are called
    6·1 answer
  • What change in the book value of the company's equity took place at the end of ?
    12·1 answer
  • if firms are producing at a profit-maximizing level of output where the price is equal to the average total cost
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!