Question
When he turned 16, Sunan really wanted a new car, so he went to the local Ferrari dealer and took out a loan to buy
When he turned 16, Sunan really wanted a new car, so he went to the local Ferrari dealer and took out a loan to buy a new Ferrari. The terms of the loan called for Sunan to make payments every month for 10 years. When Sunan turned 18 (the age of majority in his state), he decided that he should disaffirm the contract, but he kept putting it off because he loved his Ferrari so much. Finally, shortly after his 25th birthday, Sunan informed the Ferrari dealer that he was disaffirming the contract. Can the dealership enforce the agreement against Sunan?
No, because people can disaffirm contracts entered into as minors.
Yes, because he ratified the contract by not disaffirming it within a reasonable time.
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