Dustin,who Is 17 Years Old,purchased a Car from Speed Auto

question 67

Multiple Choice

Dustin,who is 17 years old,purchased a car from Speed Auto Sales Inc.for $1,000.The following year,Dustin's father gifted him a brand new car on his 18th birthday.Dustin returned the car that he had purchased to Speed Auto Sales the next day,and he demanded his money back.At the time of disaffirmance,Dustin was 18-the age at which he was considered an adult in his jurisdiction.Will this disaffirmance be enforceable in the court of law?

• A) The disaffirmance will not be enforceable since Dustin did not give Speed Auto Sales a signed revocation.
• B) The disaffirmance will be enforceable since Dustin disaffirmed during the year he attained adulthood.
• C) The disaffirmance will not be enforceable since the disaffirmance must be written when the price exceeds $500.
• D) The disaffirmance will be enforceable since courts and laws always rule in the favor of minors.
• E) The disaffirmance will not be enforceable since Dustin attained adulthood, and disaffirmance can be expressed only by a minor.

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Definitions:

Summarized Listing

A condensed version of a list that highlights main points or entries, often used for quick reference.

Fund Balances

The net assets in governmental funds, representing the difference between assets and liabilities.

Operating Fund

A fund used by an organization to manage its day-to-day operational expenses.

Encumbrance System

A legal system concerning real property wherein a claim or lien is placed on the property, affecting its use and transferability.