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In most states, minors have the capacity to enter into a contract. However, the minor may void the contract later, requiring both parties to return one another to their original position as best they can. In some states, the voiding of the contract is partially offset by the value of the use of whatever property was exchanged.
For example, a 16-year-old ("Teen") buys a car from an auto dealer ("Seller") for $20,000. Teen uses the car for three weeks, and then voids the contract. Seller must accept the car back and refund Teen the $20,000. In some states, Seller can deduct from the $20,000 the reasonable depreciation in value for the use of the car.
This does not apply to contracts for necessities of life such as food, clothing, and shelter.
Caveat:
Most contracts by minors are not upheld in court. See related link.
Wiki User
∙ 10y ago
Wiki User
∙ 13y agoMinors don't have the legal capacity to enter into contracts. Adults do.
Wiki User
∙ 10y agoThis is a complicated topic. Generally, it is not possible to enforce a contract against a minor. However, the minor can enforce the contract. See related link.
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Contractual capacity in Egypt?
Contractual capacity in Egypt
Contractual capacity in Egypt and explain the rules that organize contract signed by the minor?
http://wiki.answers.com/Q/Contractual_capacity_in_Egypt_and_explain_the_rules_that_organise_contract_signed_by_the_minor"
Does Georgia give contractual capacity to emancipated minors?
Yes, Georgia gives contractual capacity to emancipated minors. Once a minor is legally emancipated, they are treated as an adult except in ways which would otherwise be prohibited by law, such as consumption of alcohol.
What is the contractual capacity for minors in Wisconsin?
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What are the concquences if a person who has no contractual capacity enters into a contract?
The contract can be declared void. The party must either re-affirm the agreement when the do have contractual capacity or it remains void.
Age of majority and contractual capacity in South Africa?
21
What is contractual capacity of an insane person?
an insane person has no contratual capacity once declared by a competent court. hid contractual transactions will be done by a guardian or anyone appointed by the court thereof.
Does Missouri give full contractual capacity to emancipated minors?
Yes
Parties who have contractual capacity may form an enforceable contract?
yes
Define the term capacity?
The legal ability to enter into a contractual relationship.
Does South Carolina give contractual capacity to emancipated minors?
yes
Does the state of Indiana give full contractual capacity to emancipated minors?
yes
