Are there Exceptions to the Rule regarding minors making purchases / entering into contracts?

Question: Capacity and Legality: Bill is selling his 2002 Toyota for $3,000. John, a potential buyer, approaches Bill and tells him he would like to take it for a ride and then buy it if he likes it! Bill asks John if he has a driver’s license – John shows him his license and then takes the car for a test drive. John buys the car from Bill. About six (6) months later John comes back to Bill’s house and requests that Bill give him his money back. The car now has a few new dents and about 10,000 additional mileage on the odometer. As it turns out, John is only 17 years old. Had Bill looked closely at John’s driver’s license perhaps he would have realized that!

Questions: (A) Does Bill have to return John the $3,000? – Discuss! 20%

(B) What does the Majority Rule (Most states in U,S,A.) have to say about this? – Discuss! 20%

(C) Are there Exceptions to the Rule regarding minors making purchases / entering into contracts? Discuss! 40%