Question by demravager: Can a minor (say 17) enter a legal contract with a business investor?
Say a 17 year old filmmaker is offered money from an investor to finance a film. Would the minor be able to take the money and sign the necessary paperwork and have that hold up in court?
If you have some background in law, that would be helpful, please confirm your sources. I don’t want guesses and assumptions, but facts.
Answer by Marcia B
No. Minors can not be bound by contracts…they don’t have the capacity to consent. However, if the minor acts on the contract AFTER his 18th birthday he may be said to have affirmed the agreement and therefore be held to the terms.
Know better? Leave your own answer in the comments!