At Age 16,Phil Bought a Car from Acme Auto Co

question 8

Multiple Choice

At age 16,Phil bought a car from Acme Auto Co.for $2,500.Phil drove the car for about six months,and then he had an accident.The damage to the auto was $1,500.In addition,the value of the auto before the accident was only $2,000.The accident was not Phil's fault.Phil wishes to disaffirm the contract.Which of the following best describes this situation?

• A) Because the car was damaged,Phil cannot disaffirm the contract.
• B) Phil can disaffirm the contract,but he can recover only $500 of his money.
• C) Phil can disaffirm the contract,but he can recover only $2,000 of his money.
• D) Phil can disaffirm the contract and recover the entire $2,500.
• E) Phil can disaffirm the contract,but he must first have the car repaired.

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Definitions:

Satisfactions Of Caregiving

The positive emotional rewards and fulfillment individuals may experience when providing care to others.

Labor Of Love

Work or effort done for the sake of passion or deep interest, not for financial gain or duty.

Family Relationships

The connections and bonds among members of a family, whether by blood, marriage, or adoption.

Family Care Giving

The act of providing physical, emotional, or financial support to relatives who are aging, ill, or disabled, often involving significant personal sacrifice.