Contracts
Under Michigan law, a minor (under age 18) who signs a real estate purchase agreement creates a:
AVoid contract with no legal effect
BVoidable contract the minor can disaffirm upon reaching majority✓ Correct
CFully binding contract if the minor is emancipated
DContract that requires parental co-signature to be enforceable
Explanation
A contract signed by a minor is voidable, not void. The minor (or their guardian) may disaffirm (cancel) the contract upon reaching the age of majority. The other party cannot void it, only the minor can.
Related Michigan Contracts Questions
- A Michigan purchase agreement becomes a binding contract when:
- A Michigan purchase agreement is 'executory' when:
- In Michigan, earnest money deposited by a buyer is typically held by:
- A Michigan purchase agreement contains a 'save harmless' (hold harmless) clause. This clause typically protects the:
- Which clause in a Michigan purchase agreement allows the buyer to exit if they cannot obtain financing at specified terms?
- Liquidated damages in a Michigan real estate contract refers to:
- Which of the following would make a Michigan real estate contract voidable?
- In Michigan, a 'wrap-around mortgage' (all-inclusive trust deed) is a form of:
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