Question: QUESTION 4 - Please answer (a) and (b) separately On 12/15/10, John, age 25, contracts to sell his record collection to Jim, age 18, for

QUESTION 4 - Please answer (a) and (b) separately

On 12/15/10, John, age 25, contracts to sell his record collection to Jim, age 18, for $700, delivery and payment to be made 1/5/11. The State legal age of majority is 21. On 12/20/10, the legislature changes the age of majority to 18.

4a. On 1/5/11, is the contract enforceable by John? WHY?

4b. On 1/5/11, is the contract enforceable by Jim? WHY?

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