State whether the following agreements or contracts are void, voidable valid, and provide a reason for your answer. 1 ) Taylor, aged 17, gets married, and divorces two months later. After getting divorced, she enters into a contract with Michael for the sale of his house. ( 2 ) Jessica, aged 5, enters into a contract with John, aged 11, for the sale of his bicycle.    3 ) Nomsa, aged 16, runs a successful boutique with the consent of her parents, and enters into a contract relating to her business. 4 ) Amy, who is 17, has inherited an apartment in Cape Town from her deceased father. The apartment is valued at R2 million. With her mother’s assistance, Amy enters into an agreement to sell the apartment to her aunt.   5 ) Justin, who is mentally ill, concludes a contract for the sale of his laptop without his curator knowing. (2)

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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State whether the following agreements or contracts are void, voidable valid, and provide a reason for your answer.

1 ) Taylor, aged 17, gets married, and divorces two months later. After getting divorced, she enters into a contract with Michael for the sale of his house. (

2 ) Jessica, aged 5, enters into a contract with John, aged 11, for the sale of his bicycle.   

3 ) Nomsa, aged 16, runs a successful boutique with the consent of her parents, and enters into a contract relating to her business.

4 ) Amy, who is 17, has inherited an apartment in Cape Town from her deceased father. The apartment is valued at R2 million. With her mother’s assistance, Amy enters into an agreement to sell the apartment to her aunt.  

5 ) Justin, who is mentally ill, concludes a contract for the sale of his laptop without his curator knowing. (2)

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