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Can Mary cancel the contract for the sale of business? CONTRACT LAW PRESENTATION GROUP 7 Instructions: This presentation forms 30% of your nal assessment. Your

Can Mary cancel the contract for the sale of business?

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CONTRACT LAW PRESENTATION GROUP 7 Instructions: This presentation forms 30% of your nal assessment. Your answers to the following question must be prepared and presented by all group's members. Harry, aged 17, bought $500 worth of tools from Jim on credit, telling Jim that he was 20 years of age. Harry needed the tools for his position as an apprentice mechanic. He could have brought the same tools at several retailers for $100 less. On the same day, Harry purchased a new motorcycle on credit from Nancy, which cost $1,200 after the trade-in of his old bike. 011 30 June, one month before his 18'\" birthday, Han'y entered into a contract to buy a motor repair business from Mary. The purchase of the business was to be completed on 1 September. Two months later, Mary thought that she had given Harry too favourable a deal. Mary is wondering whether she can cancel the agreement based on the fact that Harry was under 18 at the time the contract was signed. Apply US. laws, answer the following questions. :1) Harry has not paid for the tools or the motorcycle and wants to return them, but the vendors do not want the goods back and are insisting that Harry pay the full purchased price. To what extent, if at all, can the vendors enforce the contracts? (2) Can Mary cancel the contract for the sale of the business? Discuss fully. Would your answer be different if Vietnamese laws apply

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