You have an emergency, and you ask your employer for a loan. She gives you $100. You sign a form indicating that you received the loan and will start repaying it next month. However, you quit the job the following week. Your former manager calls and asks whether you are going to pay back the loan. You indicate that since you are a minor, the contract is voidable, meaning that you do not have to abide by it. Is it a good idea to avoid the contract?
You have an emergency, and you ask your employer for a loan. She gives you $100. You sign a form indicating that you received the loan and will start repaying it next month. However, you quit the job the following week. Your former manager calls and asks whether you are going to pay back the loan. You indicate that since you are a minor, the contract is voidable, meaning that you do not have to abide by it. Is it a good idea to avoid the contract?
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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You have an emergency, and you ask your employer for a loan. She gives you $100. You sign a form indicating that you received the loan and will start repaying it next month. However, you quit the job the following week. Your former manager calls and asks whether you are going to pay back the loan. You indicate that since you are a minor, the contract is voidable, meaning that you do not have to abide by it. Is it a good idea to avoid the contract?
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