Henry and Wilma now wish to void the contract, asserting that they did not realize the exorbitant price they were paying. Result?

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Henry and Wilma now wish to void the contract, asserting that they did not realize the exorbitant price they were paying. Result?

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Henry and Wilma, an elderly immigrant couple, agreed to purchase from Brown a refrigerator with fair market value of $450 for twenty-five monthly installments of $60 per month. Henry and Wilma now wish to void the contract, asserting that they did not realize the exorbitant price they were paying. Result?

Explanation & AnswerSolution by a verified expert

Explanation

The contract for selling Product R, whose original cost is $450, for $1,500 is unreasonable. Additionally, it should be considered that the couple was aged and had migrated from another place. For these reasons, the contract should not be binding upon the couple.

Verified Answer

The decision should be made in the favor of the couple as the consideration involved in the contract is unreasonable.

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