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Is it legal to have a minor sign a 1 year financial commitment and liability contract without parents?

April 26, 2017Ethics financial government Law Legal minor politics year

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Is it legal to have a minor sign a 1 year financial commitment and liability contract without parents?

2 Answers

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A minor can’t be held to any sort of legal contract unless they have been emancipated or are married at the time. However, if they turn that over to a collection agency, it may negatively impact your credit score, regardless of whether it is legal or not.

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Generally a minor cannot contract. Such a contract is generally voidable at the election of the minor. You may lose this right by waiting too long or ratifying the contract. State law will govern so where you live may change the relevant law.