Contracts And Pledges : Binding Legal Relationships With Minors

891 WordsOct 6, 20144 Pages
Contracts and Pledges: Binding Legal Relationships with Minors One of elements of a valid contract is the contractual capacity which is the legal ability to enter into contracts. Minors who may have capacity enter into a valid contract, can also avoid liability arising out of it by virtue of being a minor for in law, they are not legally bound by contracts. In all the States of the U.S., all persons who are less than 18 years old are minors. However, this right to void a contract entered into by a minor can be terminated under certain situations. In some States, minority can be terminated on marriage. The minority can also be terminated by virtue of minor’s emancipation occurring when a minor’s parent or legal guardian relinquishes the legal right to control over the child. Minors who leave parental homes are considered emancipated (Miller, 2014). The right to avoid a contract by a minor entered into by him/her is known as the right of disaffirmation subject to certain exceptions. Although parents are not generally liable for contracts entered into by their minor children, they are liable if the contract was made for children’s necessaries which the parents are legally bound to provide. Thus, businesses require parents to co-sign the contract of the minor so that the parents are obligated to perform the contractual conditions even if the minor disaffirms the contract (Miller, 2014). Was Adams Jr. 's signature on the paperwork considered a binding contract? Why or why
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