Phil Fuller is 17 years old. Phil wants to buy a Corvette automobile. The price of the Corvette is 52000 dollars. Phil works as a cash register operator at McDonalds. Phil earns 8 dollars per hour. Phil works 25 hours per week. Bob Ferapples is a Corvette Dealer. Phil went to Bob's dealership and informed Bob of Phil's 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.

To carry out the deal Bob should take note of the following points :

Bob should explain the entire functioning of the car in detailed manner to Phil.

Bob should ensure that an adult should accompany Phil at the time of agreement who would sign on his behalf as Phil is just 17 years old.

A detailed agreement is to be prepared which needs to be signed by an adult at the time of handing over the keys to Phil.

Bob needs to ensure the mode of payment used by Phil,whether cash,Car loan or on Equal monthly instalments.

If going for Car Loan, it has to be applied through a bankand it has to be approved by depositing proper documents.

Registration needs to be done in the name of an adult.

Car Insurance also has to be taken.

Explanation:

you can recieve one at 18 but before then you have a checking account to keep track of the money you're making to make checks