Re: child with a credit card

Posted by Taziblue (205.188.116.17) on August 19, 2004 at 15:38:18:

In Reply to: Re: child with a credit card posted by LadynRed on August 19, 2004 at 14:49:53:

One of the 5 elements for creating a contract is

contractual capacity.

Which in English means that you must be of legal age and sane.

A contract with a minor is voidable at the option of the minor.

This happens for example when a car dealer sells a minor with a trust fund a very expensive car- and then can not get paid.

The exception would be for necessities.
This is an interesting concept since what is considered a necessity can vary by the normal living standard of the minor.

So, if you are Paris Hilton and are still a legal minor, a necessity could be Jimmy Choo shoes or something else wildly expensive,

For most of us, it would be the normal cost of food, shelter, clothing.

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