Contracts
A contract entered into by a minor in Alaska is generally:
AVoid and has no legal effect whatsoever
BValid and fully enforceable by either party
CVoidable at the option of the minor✓ Correct
DVoidable at the option of the adult party
Explanation
Contracts entered into by minors (persons under 18) are generally voidable at the minor's election, not void. The minor may choose to disaffirm (cancel) the contract upon reaching the age of majority. The adult party, however, cannot void the contract on this basis.
Related Alaska Contracts Questions
- An Alaska purchase agreement contains a 'force majeure' clause. This clause would excuse contract performance in the event of:
- An Alaska purchase agreement includes a home inspection contingency. The inspector finds a cracked heat exchanger in the furnace. The buyer requests the seller repair it. If the seller refuses, the buyer may:
- An Alaska property management agreement is an example of a(n):
- Under the Alaska Uniform Vendor and Purchaser Risk Act, if a property is substantially destroyed after the contract is signed but before closing, and neither party is at fault, who bears the loss?
- Under Alaska landlord-tenant law, a landlord must return a security deposit or provide an itemized statement of deductions within how many days after the tenant vacates?
- A buyer signed a purchase contract under duress. The contract is:
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- An earnest money deposit in Alaska is best described as:
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