A Manager Who Owns a Used Car Company Sells a Car

question 2

True/False

A manager who owns a used car company sells a car to a person who is a minor. A contract is signed by the minor,the minor makes a down payment,and takes the car home. Later,the minor decides that he does not want the car and refuses to make any more payments. This contract is binding on the minor and he must make the payments.

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Definitions:

Opportunity Cost

The worth of the most favorable option given up when a choice is made.

Taco

A traditional Mexican dish consisting of a small hand-sized tortilla topped with a filling.

Burrito

A Mexican-inspired dish consisting of a large wheat flour tortilla wrapped or folded around a filling that typically includes meat, beans, rice, cheese, and vegetables.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision or choosing one option over another.