Contracts
A real estate contract signed by a minor is generally:
AVoid
BVoidable by the minor✓ Correct
CFully enforceable
DValid only with parental signature
Explanation
Contracts signed by minors (those under the age of majority) are voidable at the minor's option, not void. The minor may disaffirm the contract upon reaching the age of majority.
Related Arkansas Contracts Questions
- In a real estate contract, 'time is of the essence' means that:
- A real estate purchase contract typically becomes void if:
- Novation in real estate contracts means:
- Which of the following correctly describes a valid offer?
- An executed contract is one where:
- A contingency clause in a purchase contract:
- Under the Mailbox Rule, acceptance of a mailed offer is effective:
- A buyer submits an offer. Before the seller responds, the buyer withdraws the offer. This is an example of:
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