Peter,a Minor,purchased a Car from ACME Motors

question 20

Multiple Choice

Peter,a minor,purchased a car from ACME Motors.Using a fake ID,he misrepresented his age to be 18.The contract is fully executed.Which of the following is correct?

• A)Peter cannot disaffirm the contract because a car is a necessary.
• B)Peter cannot disaffirm the contract because of his misrepresentation.
• C)Peter can disaffirm the contract,because a minor must be saved from his own poor judgment,including his lie.
• D)Either b or c may be applicable depending on the law of the jurisdiction in which the contract was formed.

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Definitions:

Per Capita GDP

The gross domestic product of a country divided by its population, giving an average economic output per person.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by an economy in a specific period accounting for changes in price level.

Trade Deficits

A situation where a country's imports of goods and services exceed its exports, resulting in a net outflow of domestic currency to foreign markets.

Real GDP

Gross Domestic Product adjusted for inflation, which reflects the value of all goods and services produced by an economy in a given year in base-year prices.