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Assume the following facts: Jennifer, age sixteen, contracted to buy a gold pendant from Jim's Jewels for $500. She paid the purchase price and received
Assume the following facts: Jennifer, age sixteen, contracted to buy a gold pendant from Jim's Jewels for $500. She paid the purchase price and received the pendant.
- Over the next six months, the price of gold increased dramatically, and the pendant increased in value. Under Georgia law, could Jim's Jewels disaffirm the contract, return Jennifer's $500 and get the pendant back? Briefly explain.
- Assume that after Jennifer bought the pendant, the price of gold decreased dramatically in value. Under Georgia law, could Jennifer disaffirm the contract, return the pendant, and get her $500 back? Briefly explain.
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