SpongeBob, a minor rents a condo for 12 months in the Trump Tower in Chicago from Kevin Smith (an adult) who is the manager of the condo complex. SpongeBob rents this condo at Trump Tower (this is an upscale apartment) for the unreasonably high figure of $3,700 per month. SpongeBob previously had a fight with his dad, SpongeBob, and his dad kicked him out of the family home until SpongeBob changed his attitude. The reasonable rent for a condo in that neighborhood is $1,700 per month. After one month, SpongeBob tries to disaffirm the contract based on his minority status. Can SpongeBob do so? What must SpongeBob pay to the Trump Tower for the condo lease? What legal rules apply in this situation?

Answer rating: 100% (QA)

SpongeBob being a minor has the legal right to disaffirm the contract due to his minority status Min... View the full answer