Jill, a Minor, Buys an Xbox from Kelly's Store, Agreeing

question 44

Essay

Jill, a minor, buys an Xbox from Kelly's Store, agreeing to pay the price in seven monthly installments. On the way home, Jill drops the Xbox and it breaks. The next day, she goes to Kelly's to return the Xbox. Can she cancel the installment agreement? If not why not? If so, are there any conditions?

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Definitions:

Economic Theory

A set of principles and frameworks designed to explain and predict patterns in economic activities, consumption, production, and trade, among other aspects.

Reduction in Prices

A decrease in the cost of goods or services, typically resulting from factors like increased supply, decreased demand, or governmental intervention.

Recessionary Conditions

Economic circumstances characterized by a decline in GDP, employment, and trade lasting for a period of time.