Marty,a 16-Year-Old,contracted with Cream-Of-The-Crop Cycles to Buy an $8,000 Motorcycle

question 24

Multiple Choice

Marty,a 16-year-old,contracted with Cream-of-the-Crop Cycles to buy an $8,000 motorcycle.He agreed to make monthly payments until the purchase price plus interest were paid in full.It is three years later and Marty has not disaffirmed the contract and has made regular payments on the cycle since turning 18.Which of the following is correct?

• A)The contract is void and Marty has no obligation.
• B)The contract is now voidable by Cream-of-the-Crop Cycles.
• C)Marty has ratified the contract and is now bound by its terms.
• D)Marty has ratified the contract but can still get a return of the payments made while he was a minor.

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Definitions:

Fixation

In psychoanalytic theory, an obsessive interest or feeling stuck at a particular stage of psychological development.

Compensation

A concept in psychology that refers to efforts made to offset or overcome weaknesses, disadvantages, or handicaps, aiming to maintain self-esteem or achieve success.

Collective Unconscious

A concept proposed by Carl Jung, referring to the part of the unconscious mind that is derived from ancestral memory and experience and is common to all humankind.

Personal Unconscious

A term used in psychology, particularly in theories by Carl Jung, to describe a layer of the unconscious mind consisting uniquely of an individual's suppressed memories and thoughts.