Entering into a contract can have significant legal consequences, especially when minors are involved. A voidable contract is a contract that can be legally avoided or cancelled by one or both parties, usually due to some kind of legal deficiency or fraud. In this article, we will discuss the legal consequences of minors entering into voidable contracts.
Under common law, any contract made by a minor (someone under the age of 18) is considered voidable. This means that the minor has the power to choose whether to enforce or void the contract. This is because minors are deemed to lack the legal capacity to enter into legally binding agreements. The rationale behind this is that minors are considered vulnerable and still developing their decision-making abilities.
If a minor decides to avoid the contract, they may do so by simply notifying the other party that they no longer wish to proceed with the agreement. The contract will then be considered null and void from the beginning, which means that both parties will be released from their contractual obligations.
However, if the minor chooses to enforce the contract, they will be bound by its terms and conditions. In this case, the other party will also be required to fulfill their contractual obligations to the minor. But there are certain limitations to this. A court may disallow the minor from enforcing the contract if it is found that the contract is against their best interests or if it could be harmful to their welfare.
It is important to note that even if a minor chooses to void a contract, they may still be liable for any damages that were caused by their actions. This is particularly relevant if the minor had misrepresented themselves or acted fraudulently in entering into the contract. In such cases, the minor may be held legally responsible for any damages that the other party suffered as a result of their actions.
In conclusion, minors who enter into voidable contracts are afforded significant legal protection. They have the power to void any contract if they so choose, and they cannot be held legally liable for any damages arising from such an action. However, minors should still exercise caution and seek legal advice before entering into any contracts to avoid potential legal complications.