Bob Smith is a sixteen-year-old high school student. He has worked forty hours per week at the local convenience store over the last year and has diligently saved $6,000 for the purchase of his first car. While visiting a local car dealership, Bob finds the car of his dreams, a used yellow Camaro. Bob walks into the dealership, negotiates $6,000 as the purchase price, and leaves the dealership a proud car owner. Over the course of the next six months, Bob drives the Camaro eight thousand miles, wears the tires thin, dents the left front fender, and regrets his purchase. He realizes that in two short years college will beckon, and he knows that his parents cannot afford to pay for his higher education. In short, he wants his money back. On a Saturday morning, Bob (who is now 17) returns to the car dealership, walks into the sales office, and hands the keys to the seller, asking for the return of his $6,000. The dealer chuckles, and then his look turns stern, saying, “Son, I don’t owe you anything. You’ve just learned a lesson in the ‘School of Hard Knocks.’ The car is still yours, and the money is still mine!” Who will prevail? Why? Is it legal and/or ethical to allow Bob to escape his contractual obligations? Why or why not?

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1 Reason for who will prevail between Bob and car dealer Bob is a youngster and had worked hard for his dream car and saved 6000 and from his savings ... View the full answer