Asked by jhadir Charles on Apr 27, 2024

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Generally,parents are liable for a contract executed by a minor unless they cosign the agreements.

Cosign

To sign a legal document alongside another person, often agreeing to share the responsibility for fulfilling the terms of the document, such as repaying a loan.

Minor

An individual under the legal age of adulthood, typically under 18 years old, with limited legal rights and responsibilities.

Liable

Legally responsible or obligated to answer for actions or to compensate for harm or damage caused.

  • Ascertain the scenarios in which agreements can be nullified by individuals under the age of majority.
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Verified Answer

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Ceejay VibesApr 30, 2024
Final Answer :
False
Explanation :
Generally, contracts entered into by minors are considered voidable at the minor's discretion, meaning the minor can choose to invalidate the contract. Parents are not automatically liable for such contracts unless they explicitly cosign or guarantee the agreement.