Bobby Floars Toyota, Inc. v. Smith

Bobby Floars Toyota, Inc. v. Smith, 48 N.C. App 580, 269 S.E.2d 320, Web 1980 N.C. App. Lexis 3263 (court of appeals of North Carolina)

Charles Edwards Smith, a minor, purchased an automobile from Bobby Floars Toyota. Smith executed a security agreement to finance part of the balance due on the purchase price, agreeing to pay off the balance in 30 monthly installments. Smith turned 18, which was the age of majority in his state. Smith made 10 monthly payments after turning 18. He then decided to disaffirm the contract and stopped making the payments. Smith claims that he may disaffirm the contract entered into when he was a minor. Toyota argues that smith has ratified the contract since attaining the age of majority.

Question:  Who is correct?

Instructions: Use one to two sentence to describe the issue to be decided by the court. Then provide your own opinion on what the court decision should be. You should support your reasoning with some legal authority. Cite legal principles, law and similar case decisions will have the strongest argument.

Still stressed from student homework?
Get quality assistance from academic writers!

WELCOME TO OUR NEW SITE. We Have Redesigned Our Website With You In Mind. Enjoy The New Experience With 15% OFF