Contract of a Minor

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There are many advantages and disadvantages for minors' to enter into contract. Most people believe that minors' are considered incompetent. It is said that if a person does not have the mental capacity to understand a that a contract is being made or the general nature of the contract, the person lacks contractual capacity. So then why would someone enter a contract with one. That is why I would have to say the first advantage is that most minors' which means anyone under the age of 18, are allowed to enter into contracts. However, minors' contracts are "voidable" at the option of the minor. That means that if the minor changes his mind about the contract, he can decide not to honor it. Where as if he were an adult he could be sued for breach of contract. The bad thing about this is that if the minor decides to do this to late in the contract the contract may still be able to be enforced due to the fact that they are now the age of 18. Special statute says that when a minor makes a contract with a merchant for necessaries such as food or clothing, the contract cannot be fully dis-affirmed. Necessaries are the basic items needed by family members to maintain the standard of living. If the minor dis-affirms a contract for necessaries, they may still be responsible for the value of the goods or services provided but possibly not the original price that had been agreed upon to be paid. It seems to me that as long as you are a minor then you are able to breach any contract that you enter as long as you do not have a co-signer and that you have not turned the age of 18. So you could go and buy a new truck and decide that you no longer want the truck and if the dealer did not ask for you to have a co-signer then you are able to give back the truck with no breach of contract. |
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