wat certain age must u be
2007-02-14 09:45:20 · 5 answers · asked by Anonymous in Business & Finance ➔ Investing
It's because of contract law that somebody that is 18 or over must co-sign for anybody under 18. If you are under 18 and sign a contract without a co sign (that includes buying stock) you can renege on the contract/purchase without penalty. This would upset the whole balance of the stock exchange. Imagine a 16 -year-old bought 500 shares and the shares dropped. The teen denies ever buying the shares or claim they had no idea what they were doing and the teenager wanted their money back. Trying to undo the transaction would be a nightmare.
2007-02-14 10:40:11 · answer #1 · answered by gregory_dittman 7 · 0⤊ 0⤋
You would need your parent or guardian to open or at least co-sign the account for you if you are under 18. Officially, they would make all transactions for you, since minors cannot legally enter into a contract.
2007-02-14 17:54:05 · answer #2 · answered by Brian G 6 · 0⤊ 0⤋
No.
Some trust fund babies buy their stocks when they are still in the womb. (Obviously his Portfolio Manager does that for him for a few years)
2007-02-14 23:13:10 · answer #3 · answered by Anonymous · 0⤊ 1⤋
You sound like you might need to be 40 before you're ready to make important decisions.
2007-02-14 17:48:33 · answer #4 · answered by Kevin 1 · 0⤊ 1⤋
ur ID sounds as if ur from yourba tribe > how much do u know abt stock ? hit me up
2007-02-14 18:06:41 · answer #5 · answered by Anonymous · 0⤊ 0⤋