As young adults navigate the murky waters of legal contracts, it`s important to understand that minors have limited capacity to enter into legally binding agreements. However, a lesser-known fact is that a minor may choose to ratify a contract after reaching the age of majority.
First, let`s define some terms. In most states, the age of majority is 18 years old. This means that someone under the age of 18 is considered a minor and may not have the legal capacity to enter into contracts. However, there are exceptions to this rule, such as minor contracts for necessities like food, clothing, and shelter.
Now, let`s say that a minor entered into a contract for something that isn`t considered a necessity, such as a car or apartment rental agreement. Because the minor didn`t have the legal capacity to enter into the contract at the time, the contract is generally considered voidable. This means that the minor has the option to either affirm or disaffirm the contract when they reach the age of majority.
If the minor chooses to ratify the contract, they`re essentially agreeing to be bound by its terms. This can happen through explicit or implicit means. An explicit ratification would involve the minor signing a new agreement that specifically references the original contract and confirms their intention to be bound by its terms. Implicit ratification could occur if the minor continues to use the car or live in the apartment after turning 18, thereby indicating their acceptance of the contract.
It`s important to note that ratifying a contract after reaching the age of majority also means that the minor assumes any legal obligations and responsibilities associated with the agreement. For example, if a minor ratifies a contract for a car loan, they`ll be responsible for making the payments going forward.
In conclusion, while minors generally don`t have the legal capacity to enter into contracts, there are exceptions and opportunities to ratify a contract after reaching the age of majority. It`s important to carefully consider the terms and implications of any contract before ratifying it, as doing so means assuming full legal responsibility for its obligations and consequences.