UGBA 175 Study Guide - Midterm Guide: Meeting Of The Minds, Consequential Damages, Oral Contract

• School: Berkeley
• Department: Business Administration Undergraduate Program
• Course: UGBA 175
• Professor: Alan Ross Alan

Document Summary

Contracts by minors (even emancipated) are voidable by themselves or their guardians. So long as you return any part (of a car) you get money back changes to you pay for what. If too young, because there is no meeting of the minds the contract is void you already used, recover a small percentage. Ratification final, total contract, express or implied or from failure to make timely disaffirmance. Implied: sell property to someone else, continues to use the property, keeping goods. Disaffirmance during minority or within a reasonable time after reaching majority, express or implied showing of intent not to be bound: sale of land cannot be disaffirmed until minors reach majority. Duty upon disaffirmance: return any property received (majority), payment of reasonable amount for use of property/ amount of depreciation/ make restitution (other states) Can minor disaffirm and recover property his buyer has transferred to a good faith purchaser: cl: yes, ucc: no (voidable title legal title)