Name Two Types of status incapacity with example

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Questions

1. Name Two Types of status incapacity with an example of each.

2. Explain the Mail Box rule and who it applies to with an Example.

3. John a 17 year old, purchases a Pool Table, 4 Cue Sticks, and a set of rack and pool balls. A week later after he turns 18, he seeks to return only the pool table and states he will keep the other items. Can John avoid the Contract this way?

4. What ways can offer may be terminated?

5. Bob loans Bill $5000 at 45% interest to be paid yearly A State Usury Statute states that the highest interest rate that can be charged is limited to 3 % per month on the principle Bob claims that since the Statute does not address the yearly rate to be paid, he can charge his interest rate of 45% yearly Is he correct? Why? Why Not.

Reference no: EM133936198

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