A Virginia buyer and seller enter into a written purchase contract for a home in Virginia Beach. The buyer is a minor (age 17). The buyer's parents did not co-sign the contract. The seller, unaware of the buyer's age, has already accepted and begun making preparations for the sale. Under Virginia law, what is the legal status of this contract?
Correct Answer
D) The contract is voidable at the election of the minor buyer, but enforceable against the seller
Under Virginia law, contracts entered into by minors (persons under 18) are voidable, not void. The minor has the right to disaffirm (void) the contract upon reaching the age of majority or within a reasonable time thereafter. However, the contract is fully enforceable against the adult party (the seller). This reflects the protective purpose of the incapacity doctrine — it protects the minor, not the adult who contracted with a minor.
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Related Topics & Key Terms
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Related Concepts
Contingencies are conditions written into a real estate contract that must be met before the transaction can close. If a contingency is not satisfied, the buyer can typically cancel the contract without penalty.
Contract termination occurs when a contract is ended or discharged, releasing both parties from their obligations. A contract can be terminated through performance, mutual agreement, operation of law, or breach.
A counteroffer is a response to an original offer that changes one or more terms of the offer, effectively rejecting the original offer and creating a new offer. The party who makes the counteroffer becomes the new offeror.
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