Jack, a 17 year old, drops in at a Great Buy store to purchase an Xbox on an installment payment plan. A week later, Jack, after playing games on a new Nintendo, wants to return his Xbox to Great Buy and cancel the contract. What is the legal status of Jack's agreement with Great Buy? Since Jack is a minor and the Xbox is not a necessary of life, Jack may cancel the agreement, but Great Buy cannot Since Jack is a minor and the Xbox is not a necessary of life, either Jack or Great Buy may void the agreement Since the agreement provides a benefit to Jack, it is a valid contract which Great Buy can enforce against Jack's parents since he is a minor ince Jack is over 16 years of age neither he nor Great Buy can cancel the contract and he is legally ound by the agreement