Question

Phyllis Fuller is 17 years old. Phyllis wants to buy a Corvette automobile.
The price of the Corvette is 82000 dollars. Phyllis works as a cash
register operator at The Greasy Spoon Restaurant. Phyllis earns 12 dollars per hour. Phyllis
works 20 hours per week.

Bob Ferapples is a Corvette Dealer. Phyllis went to Bob's dealership
and informed Bob of Phyllis' desire to buy a new Corvette.

Using relevant material as presented in the text, advise Bob how
Bob could structure this deal to make it work. Include all legal rules,
concepts, and doctrines to support your analysis. Comment on the
postings of your classmates.

Answer 1

In order to structure the deal, Bob might think about the subsequent points :

•Bob ought to justify the whole functioning of the automotive in elaborated manner to Phil.
•Bob ought to make sure that associate adult ought to accompany Phil at the time of agreement WHO would check in his behalf as Phil is simply seventeen years previous.
•A elaborated agreement is to be ready that must be signed by associate adult at the time of turning in the keys to Phil.
•Bob must make sure the mode of payment utilized by Phil,whether money,Car loan or on Equal monthly instalments.
•If going for consumer loan, it's to be applied through a bankand it's to be approved by depositing correct documents.
•Registration must be drained the name of associate adult.
•Car Insurance conjointly should be taken.