A broker in Spokane prepares a Purchase and Sale Agreement for a buyer client. The buyer is 16 years old and has not been legally emancipated. The seller, who is 45 years old, signs the agreement. Under Washington contract law, what is the status of this agreement?
Correct Answer
B) The contract is voidable at the option of the minor buyer
Under Washington contract law, contracts entered into by minors (persons under 18 who have not been legally emancipated) are voidable — not void — at the option of the minor. This means the minor may choose to disaffirm (cancel) the contract or ratify it upon reaching the age of majority (18). The adult seller, however, is bound by the agreement and cannot use the minor's age as a basis to escape the contract.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A bilateral contract is an agreement in which both parties exchange promises and are both obligated to perform, while a unilateral contract is one in which only one party makes a promise and the other party is not obligated to act.
A breach of contract occurs when one party fails to perform their obligations under the contract without a legal excuse. The non-breaching party is entitled to legal remedies including damages, specific performance, or contract rescission.
Consideration is something of value exchanged between parties to a contract, making the agreement legally binding. It can be money, a promise to act, a promise to refrain from acting, or anything else of value.
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