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Sixteen year old Alice is a high school junior who looks at least 21 years old. She sees a parcel of land that she would like to buy in order to build a house after she graduates from college. Alice contacts Loren, the owner of the property, about buying it for $15,000. He asks her how old she is and she replies "I'm 21." He then draws up a sales contract for the land. Alice pays $1,000 down and signs the sales agreement which states that she will pay $500 a month until the rest of the entire purchase price is paid. Alice makes 5 payments of $500 to Loren. On the sixth month, just before her 17th birthday, Alice goes to Loren and says she is tired making payments and wants her money back. Is Alice entitled to the return of her money and avoidance of the contract?  

Business Law & Ethics, Finance

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