Intro to Business Law

[malcs]

One thing I would say is I had several questions that looked really complexed but on the first line it said 17 year old and contract, remember 18 year olds can sign contracts, not 17.

There are a number of scenarios with this, and you need to know them all, including:
1) What happens if signed just before majority age
2) What happens if signed just before majoity age, and item gets destroyed a few days after majority age. (Seller can still be the loser if recent contract)
3) Who has right of recision
4) When the person would have a right to return a crashed car
5) Who the court would favor under the different circumstances.
6) Different handling of necessary items vs non-necessary
7) What constitutes ratification of a contract created while someone was a minor.
8) What majority age means

And a slight correction to the above post...
Anyone can sign a contract, even someone who has not reached majority age. Most of the time the contract will be enforced until the minor rescinds the contract.

I used REA for this exam and passed with 70,(A), yesterday. There is a good overview and it has two full length tests.

I would have done even better, but ran out of time near the end.

See the exam specific thread for study guides and video links.

Watch these videos:
Tort Law Terms (Money & Careers: Tort Law)
Business Law |Contract Law Playlist

Best of luck