Mark (Age 16) Appoints Joe (Age 21) as His Agent

question 1

Multiple Choice

Mark (age 16) appoints Joe (age 21) as his agent to purchase a digital camcorder from Electronic World. The transaction is:

• A) void because Mark is a minor.
• B) voidable by Electronic World because Mark is a minor.
• C) voidable by Mark because he is a minor.
• D) not voidable because Joe is not a minor.

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Definitions:

Foreign Trading

The act of buying and selling goods and services between different countries, also known as international trade.

Spot Exchange Rate

Buying foreign currency at present-day rates in anticipation of future transactions.

Bank Offers

Promotions or deals provided by banks to attract new customers or to retain existing ones, including lower interest rates or bonus rewards.

U.S. Dollars

The official currency of the United States, widely used as the global standard for financial transactions.