7 questions Essay Example | Topics and Well Written Essays - 500 words - 1

7 questions - Essay Example In question 2, Jasmine can disaffirm the earrings, tickets to a concert and down payment for the used car due to her age. The case would not be any different if the items were used or she waited for a period of one month before returning them as long as the time agreed on the contract did not elapse. For instance, she could return the tickets to the concert after the one month provided that they had not expired. In question 3, the contract can be ratified through Jasmine writing or starting to confirm that she intends to be bound by the terms of the contract. Moreover, the action of her continuing to make the monthly payments can be termed as ratification of the contract. Her mother would be liable for the contract if Jasmine fails to adhere to its terms and the court proves that she failed to supervise her daughter properly; a factor that caused her to expose others to unreasonable risk of harm. In 4 (a), the contract is not enforceable because it exceeds the legal maximum interest rates which are set to facilitate business transactions while keeping the economy healthy. In 4 (b), in most States gambling is illegal because it might run afoul some applicable criminal laws hence any contract involving it is unenforceable. This factor renders the purchase of the slot machine to be used for gambling unenforceable. In 4 (c), the contract is enforceable because it involves revenue generation but the contractor would be expected to pay fine for working without a license. In 4 (d), the contract is unenforceable because it compromises the safety standards that are set to protect the health of the users. In question 5, Alex can make use of the substantive unconscionability as a legal defense in arguing that the contract with his former employer provided unfair benefits. He would term the contract to have had prevented achievement of equal benefits for both him and his former employer. In question 6, exculpatory clause is a legal provision that releases