How to answer this question about Contract Law?
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Jenna
Stanley and Garcia were both minors. Stanley bought Garcia's baseball card collection for $1,000. Stanley then sold the collection to American Collectors Company for $1,500, saying he was 22 and it was his collection. Two weeks later, Garcia decided she wanted the collection back. Discuss the rights of all the parties.
 Prorkycake |
Review your textbook regarding the contract relationships with minors and whether or not they are voidable. I won't do your homework for you, but maybe that will help you find the answer on your own :) |
![DeeDee=]](http://jobssearchengine.net/images/avatars/(61).gif){kind=avatar} DeeDee=] |
Legally the collection belonged to Gracia but she had soled it to Stanley for $1000. Now it belongs to Stanley. Stanley then sold it off and made a profit of $500. Stanley now has no authority of the collection which means if Gracia wants the collection back, she would have to buy it from the American Collectors Company where Stanley had sold to because he has no possession of the collection to trade Gracia the collection for the money again. But she is a minor, which that will not happen. |
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