Maria,aged 16,from a wealthy family,purchases designer jeans on credit for $300.The true fair market value for the jeans is $75.Which of the following is true of this case?

Question

Quizplus · Accepted Answer

As per the principle of disaffirmance, a minor can void a contract made with them as long as the item purchased is deemed not necessary. Designer jeans do not fall under the category of necessities, and hence Maria can disaffirm the purchase. Her family's wealth is not relevant in this case. The fair market value of the jeans is also not the same as the contract price and does not affect the ability to disaffirm.

Maria,aged 16,from a Wealthy Family,purchases Designer Jeans on Credit for $300.The