Some risks, some mitigating solutions and the limitations of those solutions when contracting with a minor.
сентября 29, 2015 at 07:56 AM
By Michael L. Bloom, Mark McLoughlin, Tim Cross, Elizabeth Beitler | Updated on сентября 29, 2015
The original version of this story was published on Law.Com
This is part of a series of articles [link: to other articles] on transactional contracts issues by Prof. Michael L. Bloom and students in the Transactional Lab & Clinic at the University of Michigan Law School.
One of the fundamental principles of U.S. contract law is that a party must have the capacity to enter into a contract in order to be bound. Minors, as a general rule, lack this capacity. As a result, any contract made with a minor might not be enforceable. Yet in certain circumstances, contracts with minors are commonplace. For instance, in the entertainment industry, child actors frequently are asked to sign a variety of contracts. The following identifies some risks, some mitigating solutions and the limitations of those solutions when contracting with a minor.
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