2007-02-09 03:53:57 · 9 answers · asked by zeff 1 in Business & Finance ➔ Insurance
unenforceable
2007-02-09 03:57:08 · answer #1 · answered by ricks 5 · 2⤊ 1⤋
There is no special name for it, it's called a contract. It's just one of the requirements (Legal Capacity of the Parties to Contract), along with Agreement, Consideration, Legality of Object and Genuine Intention that must exist in order for a contract to be legally enforceable (insurance contracts, along with the above, also require Insurable Interest, Utmost Good Faith and Indemnity to exist as well). Generally contracts involving minors are not enforceable by law, however minors do have the right to contract for the necessities of life (food, clothing and lodging). This is why insurance contracts with minors are not in violation of the law. Some apartment complexes require their tenants to purchase a tenant's policy, therefore it is possible for a minor to enter into an insurance contract for tenant's insurance and it would be enforceable by law. Also the ability for a minor to void a contract because of their status as a minor is forfeited after a reasonable length of time. So a store that sells an IPod to a 12 year old and stamps "All Sales Final" is required to refund the 12 year old's money as long as the item is returned within a reasonable length of time.
2007-02-09 17:26:22 · answer #2 · answered by Gambit 7 · 2⤊ 0⤋
Null and void for the most part. Minors cannot enter into contract under the law because, well, they are minors and cannot enter legal agreements until the reach age of majority, what ever that is in your state. There are a few exceptions to this rule, but they are rare. These are usually found in sports or entertainment contracts.
2007-02-10 11:21:05 · answer #3 · answered by shadow_runnr 3 · 1⤊ 0⤋
IT IS CALLED VOID CONTRACT
void literally means "no life" in our parlance for understanding !
CONTRACT ACTS the world over look at minors as to be incapable of exercising options correctly withot subjecting themselves to greater risks..Hence any contract by/with a minor is not recognised in law giving rights to the other party.
however a natural guardian(parents/adopting parents) can enter into contracts for the benefit of the minor !
Law wants to safeguard minors !
2007-02-10 12:15:03 · answer #4 · answered by Narasimhan G 2 · 1⤊ 0⤋
Void.
A minor cannot enter into a contract.
2007-02-09 12:11:11 · answer #5 · answered by Insurance Biz CT 5 · 0⤊ 1⤋
Unenforceable. Unfortunate. Unwise.
2007-02-09 13:22:04 · answer #6 · answered by Lisa A 7 · 0⤊ 1⤋
Illegal. You can't make contact with a minor without a parent's consent, plain and simple.
2007-02-10 05:30:33 · answer #7 · answered by GreenIce10 3 · 0⤊ 0⤋
void
2007-02-09 12:18:48 · answer #8 · answered by cooldev 2 · 0⤊ 1⤋
not legal
2007-02-09 11:57:43 · answer #9 · answered by Queen B 6 · 0⤊ 2⤋