At age 16, Phil bought a car from Acme Auto Co. for $2,500. Pil drove the car fo

Question

At age 16, Phil bought a car from Acme Auto Co. for $2,500. Pil drove the car for about six months, and then he had an accident. The damage to the auto was $1,500. In addition, the value of the auto before the accident was only $2,000. The accident was not Phil's fault. Phil wishes to disaffirm the contract. Which of the follow best describes this situation?

a. Because the car was damaged, Phil cannon disaffirm the contract.

b. Phil can disaffirm the contract, but he can only recover $400 of his money

c. Phil can disaffirm the contract , but he can recover only $2,0000 of his money.

d. Phil can disaffirm the contract and recover the entire $2,500

e. Phil can disaffirm the conctract but he must first have the car repaired.

Explanation / Answer

The right answer is part (e).

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