Assignment:
Ralph, age 17, contracted with Big Box Electronics to buy an 55" Ultra HD TV. The contract called for Ralph to pay a $250 deposit and then 24 monthly installments of $50 each. Ralph paid the deposit, signed all of the necessary paperwork presented by the store, and departed with the TV set. Before receiving the first monthly payment, however, the owner of the store (Mike) was talking with one of his employees, a DeSales business law student, who told him about the incapacity of minors to contract. Mike immediately called Ralph and asked him to return the TV set.
The owner promised Ralph he would return his deposit money to him and void the contract so that Ralph would have no further payment obligations. Mike was worried that Ralph might try to get out of the contract since he was 17 years old at the time of the agreement. Ralph, however, refused to return the TV and went ahead and mailed in his first monthly payment. Can mike disaffirm this contract? Why or why not? Could ralph have disaffirmed this contract at the time he got mike's phone call? Why or why not?