QUESTION 4 - Please answer (a) and (b) separately<\/p>
On 12\/15\/10, John, age 25, contracts to sell his record collection to Jim, age 18, for $700, delivery and payment to be made 1\/5\/11. The State legal age of majority is 21. On 12\/20\/10, the legislature changes the age of majority to 18.<\/p>
4a. On 1\/5\/11, is the contract enforceable by John? WHY?<\/p>
4b. On 1\/5\/11, is the contract enforceable by Jim? WHY?<\/p>", "transcribed_text": "", "related_book": { "title": "Accounting Principles", "isbn": "978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475", "edition": "9th Edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/47.jpg", "uri": "\/textbooks\/accounting-principles-9th-edition-47", "see_more_uri": "" }, "free_related_book": { "isbn": "0937175277", "uri": "\/textbooks\/xlib-programming-manual-for-version-11-vol-1-1st-edition-978-0937175279-226259", "name": "Xlib Programming Manual For Version 11 Vol 1", "edition": "1st Edition" }, "question_posted": "2024-06-21 09:00:23", "see_more_questions_link": "\/study-help\/questions\/social-sciences-psychology-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/use-the-existing-basin-conditions-from-problem-52-and-add", "description": "Use the Existing Basin conditions from Problem 5.2, and add a detention pond in the two largest sub-basins, using the storage-discharge relationship from Problem 5-4 for each. 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