Question: 1. john a 17 year old, purchases a Pool Table, 4 Cue Sticks, and a set of rack and pool balls. A week later after

1. 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? 2. 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

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!