Contracts with Minors: Are They Void or Voidable?
Contracts are legal agreements that bind two or more parties to specific terms and conditions. However, when it comes to contracts with minors, the law can be gray and confusing. Are these agreements void or voidable? Let`s explore.
What is a Minor?
A minor is an individual who is under the age of 18. The legal age of majority may vary by state or country, but in general, people under the age of 18 are considered minors. Minors are generally not able to enter into binding contracts because they lack the legal capacity to do so.
Void Contracts with Minors
A void contract is a legal agreement that has no legal effect. When it comes to minors, contracts are generally considered void if they are not for the essential benefits of the minor. For example, a contract signed by a minor to purchase a car would be considered void because the purchase of a car is not considered essential to a minor`s well-being.
In addition, contracts that are illegal or against public policy are typically void. For example, a contract signed by a minor to sell illegal drugs would be void because the sale of illegal drugs is against public policy.
Voidable Contracts with Minors
A voidable contract is a legal agreement that is enforceable, but one or more parties have the right to void the agreement. When it comes to minors, contracts are generally considered voidable if they are for the essential benefits of the minor. For example, a contract signed by a minor to purchase basic necessities like food, clothing, or shelter would be considered voidable.
In addition, contracts signed under duress or coercion are typically voidable. For example, if a minor was forced to sign a contract under threat of physical harm, they would have the right to void the agreement.
Protecting Minors in Contracts
Due to the legal complexities of contracts with minors, it is important to have legal guidance when entering into agreements with individuals under the age of 18. Contracts with minors should always be carefully scrutinized to ensure that they comply with the applicable laws and regulations.
Additionally, it is important to consider the best interests of the minor when entering into contracts. This may involve seeking the advice of a legal guardian, medical professional, or other experienced advisor.
Conclusion
Contracts with minors are complex legal issues that require careful consideration and guidance. While some contracts with minors may be considered void or voidable, it is important to take the best interests of the minor into account when entering into legal agreements. By seeking the advice of legal professionals and other advisors, you can protect your interests while also ensuring that minors are not taken advantage of in contractual agreements.