Ian,a 16-year-old,contracts with Anderson Used Cars to buy a $6,000 1998 car.Ian agrees to make monthly payments until the purchase price plus interest are paid in full.Which of the following is correct?

Question

Quizplus · Accepted Answer

Ian is a minor, and therefore lacks capacity to enter into a binding contract. However, the contract is not void but rather voidable, which means that Ian has the option to either enforce or disaffirm the contract. Therefore, option B is correct. Anderson Used Cars cannot void the contract, but must abide by Ian's decision to enforce or disaffirm the contract.

Ian,a 16-Year-Old,contracts with Anderson Used Cars to Buy a $6,000