Justin Is 17 Years Old and Just Signed a Contract

question 31

True/False

Justin is 17 years old and just signed a contract to buy his first car.This contract is unenforceable.

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Definitions:

Accounts Receivable

Money owed to a company by its clients or customers for goods or services delivered but not yet paid for.

Credit Sales

Sales made by a business where payment is not received at the time of sale but is instead deferred to a future date, typically involving an agreement or credit terms.

Customer Payments

Monies received by a company from its customers in exchange for goods or services provided.

Prepaid Expenses

Expenses paid in advance for goods or services to be received in the future.