According to the traditional rule,if Sam,a minor,purchased a television from an electronics shop with a $100 down payment on a one-year credit contract and accidentally damaged it a week after he took it home,he could return the television to the store in its damaged condition and tell the owner he was rescinding the contract.Sam would then be entitled to the return of his $100 down payment and would owe no further obligation to the store.

Question

Quizplus · Accepted Answer

States that still follow the traditional rule regarding the ability of minors to disaffirm contracts simply require the minor to notify the competent party of the intent to disaffirm and return the competent party any consideration received under the contract that is still under the minor's control,regardless of the condition of the consideration.If the consideration has been destroyed or damaged,the minor returns whatever is left of it,and the other party has no recourse against the minor under most circumstances.The other party is also obligated to return to the minor whatever consideration the minor offered to support the contract.In this example,the electronics shop must return to Sam his $100 down payment.

According to the Traditional Rule,if Sam,a Minor,purchased a Television from an Electronics