Asked by Sarah Randolph on Jul 15, 2024
Verified
James, a 16-year-old boy, got a job for a catalogue company selling household items that he ordered from the business and sold to his customers. James' grades at school suffered as a result of his job, and he was forced to give it up. He returned the goods he had purchased on credit and notified the company that he was discontinuing his employment. The company contacted James and told him that by having the goods in his possession the company had lost revenue opportunities. It then billed James for the cost of the goods. James is obliged to pay.
Credit
The granting of money or something of value with the expectation of repayment, or the reputation for solvency and reliability that allows an entity to borrow.
Revenue Opportunities
Potential scenarios or strategies that can lead to increased income or profits for a business or organization.
- Highlight the rights and obligations of minors with respect to contracts.
Verified Answer
KO
Kayla OlivoJul 18, 2024
Final Answer :
False
Explanation :
As a minor, James is protected under most jurisdictions' laws, which allow minors to disaffirm contracts. This means he can legally return the goods and cancel the contract without being held responsible for the company's lost revenue opportunities.
Learning Objectives
- Highlight the rights and obligations of minors with respect to contracts.