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ContractsContract_essentialsMEDIUM

A contract signed by a minor is:

Correct Answer

C) Voidable

Contracts signed by minors are voidable, meaning the minor can choose to void the contract or ratify it upon reaching the age of majority.

Answer Options
A
Invalid
B
Valid
C
Voidable
D
Void
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Related Topics & Key Terms

Related Topics:

contractual-capacitycontract-formationcontract-disaffirmation

Key Terms:

voidable contractminorage of majoritycontractual capacityratification

Related Concepts

Offer and acceptance is the process by which one party proposes specific terms for a contract and the other party agrees to those exact terms, creating mutual assent. This mutual agreement, also called a meeting of the minds, is an essential element of every valid contract.

An option contract gives one party the exclusive right, but not the obligation, to purchase or lease a property at a specified price within a specified time period. The buyer pays option consideration to keep the option open.

A purchase agreement is a legally binding contract between a buyer and seller that outlines the terms and conditions for the sale of real property. It is also commonly called a sales contract, purchase and sale agreement, or earnest money agreement.

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