Could Josey legally disaffirm the purchase of the Lexus and obtain the return of her $300?
Based on the facts of the case, Josey could not disaffirm the Lexus purchase and cannot recover her $300 from the Lexus company.
Discuss what facts were critical and what legal principles you applied in reaching your decision in answering Question 1.
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Although Josey ratified the contract while since a minor, aged 17 years, there are several facts of the case, which prevent the disaffirmation of the agreement and reimbursement of her money. According to legal capacity principle, a former minor may not declare a previously ratified contract as void after attaining majority age. The law only allowed Josey to disaffirm the contract at any time before the age of 18 years. Based on the fact that Josey allowed 48 months (reasonable time) to lapse after attaining majority without avoiding the contract, the law does not allow her to disaffirm the contract. Moreover, the Lexus GS 450 was furnished necessary, which she used for four years and six months to sustain her comfort; thus, she is bound to pay for its reasonable value.
Could Aunt Judy rescind (i.e., cancel) her co-signing of the financing agreement for the Lexus and receive a return of her $30, 000 in payments?
Aunt Judy could not cancel her co-signing of the Lexus’ financing agreement; thus, she is not entitled to reimbursement of her $30, 000 by the company.
Discuss what facts were critical and what legal principles you applied in reaching your decision in answering question 3 above.
Based on the fact that Aunt Judy agreed to co-sign the agreement, she is bound to the terms of the contract. According to the legal principle of contract law, all parties of contracts and co-signers should have the intention to enter into the contract. Despite Aunt Judy’s history of depression, she had the contractual and legal capacity as well as an intention to co-sign the agreement, which makes her bound to all the terms of the contract. In this case, she could not recover her $30, 000 as it is one of the co-signer liability.
Remember that Josey was an adult at the time of meeting Justin at the restaurant and that all the terms of a contract were included on the Snuffer’s notepad and signed. Can Josey rescind the agreement with Justin regarding the oil investment based on lack of contractual capacity or on a theory that she had not genuinely consented to the deal?
Josey can rescind the agreement based on the fact that she had factual incapacity at the time she ratified the agreement due to her episodic mental bouts; thus, she did not genuinely consent the deal.
Discuss what facts were critical and what legal principles you applied in reaching your decision in answering question 5.
Josey had a history of mental bouts following the automobile accident. At the time when she signed the agreement with Justin, she was experiencing an episode of mental bouts. According to the legal principle of capacity, a person should possess factual capacity (i.e., should be of sound mind) when entering into a contract. In this case, Josey lacked a genuine understanding of the terms of the oil project deal; thus she can rescind the contract.
