Minors are not allowed to enter into binding contracts in most jurisdictions. However, they are permitted to disaffirm or void any contracts they sign before reaching the age of majority. The purpose of this legal principle is to protect minors from being exploited or entering agreements that are not in their best interest.
The reason why minors are allowed to disaffirm their contracts is that they lack the legal capacity to make binding agreements. The law recognizes that minors are not yet fully mature or responsible enough to understand the consequences of their actions. Therefore, minors cannot be held accountable for the contracts they sign until they reach the age of majority.
Additionally, minors are also deemed to be vulnerable to fraud and coercion. They could be easily manipulated by unscrupulous parties into signing contracts that they would not otherwise agree to. By allowing minors to disaffirm their contracts, the law protects them from being exploited and ensures that they are not bound by agreements that they did not fully comprehend.
Even if minors disaffirm their contracts, they are still required to return any benefits they received under the agreement. For example, if a 16-year-old buys a car and later disaffirms the contract, they must return the car to the seller and receive a refund of any money they paid.
It is important to note that minors can only disaffirm contracts while they are still under the age of majority. Once they reach the age of majority, they are deemed to have ratified any contracts they entered into while they were minors. This means that they are now bound by those agreements and cannot disaffirm them.
In conclusion, the legal principle that allows minors to disaffirm their contracts serves to protect their interests and prevent them from being taken advantage of by others. By recognizing that minors lack the legal capacity to make binding agreements, the law ensures that contracts are only entered into when both parties have the ability to fully understand and agree to the terms.
