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Question
Pat is a rich boy whose parents supply him with every conceivable necessity of life. While still a minor, Pat buys a coat on credit from a men's store for $5,000. After wearing the coat for a while, Pat decides that it bores him and that he would like to disaffirm. Which of the following is most likely to be true? Assume that Pat is still a minor.
A. Pat can disaffirm the contract, and he must return the coat.
B. Pat cannot disaffirm the contract, but he is liable only for the reasonable value of the coat.
C. Pat cannot disaffirm the contract, and he is liable for the full price of the coat ($5,000).
D. Pat can disaffirm the contract, but the store will sue him for deceit.
Answer
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