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In a state where the age of majority is 18, a luxury car dealer sells a Lamborghini sports car to an extremely wealthy, 17-year old
In a state where the age of majority is 18, a luxury car dealer sells a Lamborghini sports car to an extremely wealthy, 17-year old music-superstar for $400,000 paid by check. All of the sales documents indicate that the car is being sold directly to the young music star who properly represented his 17-year age to the car dealer. Six months later and one week after turning 18, after driving the car for 5,000 miles, the musician returns the car in good condition to the dealer and insists on return of the $400,000. Which one of the following is true? Question 3 options: a) Depending on the law in the particular state, the dealer either must return the full $400,000 or must return the $400,000 minus the depreciation in the value of the car due to the musician's use of the vehicle. b) Since, despite the buyer's young age, the musician/buyer was extremely wealthy and could easily afford even this high-priced vehicle, the car dealer is not obligated to return any of the $400,000. c) Because this is now a used car and its value has depreciated significantly due to the 5,000 miles use over 6 months, the car dealer
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