Scott, a Minor, Sells His Digital Camera to Megan, Who

question 18

Multiple Choice

Scott, a minor, sells his digital camera to Megan, who then sells it to Sherry. Under these circumstances:

• A) Scott retains the power of avoidance of the contract, since he is a minor, even after the property is sold to Sherry.
• B) if Sherry is a good faith purchaser for value and she buys the camera before Scott elects to rescind, no rescission is permitted.
• C) Megan and Sherry both received a voidable title regardless of whether they contracted in good faith.
• D) if Scott wants to rescind the transaction after the sale to Sherry, a good-faith purchaser for value, he has no remedy or recourse.

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Definitions:

Labor

The deployment of human manpower, both in physical form and intellectual capacity, for generating goods and services.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, clearing the market.

Interest Rate

The percentage of a loan amount charged by the lender to the borrower for the use of money, calculated on an annual basis.

Gnome Molds

The forms or templates used for the creation of gnome figurines, typically made from materials like plastic, silicone, or metal.