Jennifer has offered to sell her laptop computer for $750 to Jack. She tells Jack that the computer is only six months old but, in fact, it is three years old, and Jennifer wants to get rid of it. Jack agrees to buy the computer based on Jennifer's representations. This contract is:

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Question restatement: Jennifer offers to sell her laptop to Jack for $750, claiming it is six months old when it is actually three years old, and Jack relies on this misrepresentation to buy it. Which contract characterization best fits?

Option A: 'a voidadi ntic agreement because of the fraud involved' — This option contains a misspelling and appears to confuse terminology. In contract law, fraud can render a contract voidable, not merely void, provided the misrepresentation is material and induces assent. So this phrasing is both incorrect in terminology and conceptually imprecise.

Option B: 'a void contract because it involves electronic devices.' — The involvement of electronics has no bearing on contract validity. A contract is not void merely because the subject matter is a product like a laptop; defects or misrepresentations affect the contract, not the category of goods.

Option C: 'a voidable contract, one that Jennifer can void.' — This misstates who has the power to void the contract. If Jennifer commits fraud, the misled party (Jack) has the option to rescind. Jennifer cannot void the contract herself on grounds of her own misrepresentation; she would be the wrongdoer whose actions caused the contract to be voidable by the other party.

Option D: 'a voidable contract, one that Jack can void.' — This aligns with contract-law principles: fraudulent misrepresentation by the seller induced Jack to enter the contract under false pretenses, making the contract voidable at Jack’s option. He may rescind and return the laptop, or affirm the contract if he chooses, but the misrepresentation gives him the right to void.

In summary, only the fourth option correctly identifies the contract as voidable and specifies that Jack, the deceived party, has the option to void the agreement. The other options either misstate who has the right to void, rely on irrelevant distinctions (like the subject matter), or contain errors in terminology and concept.

LEGAL & REGULATORY ENVIRONMENT FIN 2050-04 (90533) FINAL EXAM

Jennifer has offered to sell her laptop computer for $750 to Jack. She tells Jack that the computer is only six months old but, in fact, it is three years old, and Jennifer wants to get rid of it. Jack agrees to buy the computer based on Jennifer's representations. This contract is:

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