If a Minor Sells Property That the Buyer Then Resells

question 45

True/False

If a minor sells property that the buyer then resells to a good faith purchaser for value and the minor then disaffirms the sales contract, under both the traditional view and the UCC, the minor can recover the property from the good faith purchaser for value since the minor has the power of avoidance and both purchasers had only voidable title.

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Definitions:

Cash

Cash refers to the company's currency and coins on hand, including bank account balances, utilized for transactions and operational needs.

Revenue

The total financial proceeds accumulated from a company's chief business endeavors, including sales of services and goods integral to its operations.

Equity

The ownership interest of shareholders in a corporation, represented by the assets minus the liabilities.