Thursday, December 11, 2008

Kids are Entrepreneurs Too!

I saw this article in the WSJ about children selling their toys on Ebay, Craigslist and other sites in order to raise money for new toys that their parents cannot afford this year due to the troubled economy. Other kids are selling toys just to be able to buy gifts for others or to help with family finances because a parent is out of work. Yikes! It's a tough world out there right now.

Having just written the examination for my first year Contracts I students, thoughts of contracts avoidable by minors comes to mind. My little boys would hardly part with their toys to share with each other (being just 1 and 3), let alone to sell to a stranger. And, does a child that becomes a little entrepreneur selling a whole host of toys on Ebay make them a merchant for purposes of UCC 2-314? Let's hope not.

Thankfully for my students, its too late for me to wrap this one into the examination.


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