Introduction – A Contract
As the law stands, minors cannot make contracts for many stated and explained reasons. A contract is usually a black and white document that consists of voluntary promises or agreement between two parties who are competent on the consciousness of the contract on what to do or not to do. There is also an oral contract which is least commonly used when speaking on legal grounds and such. A contract is legally enforced by the law. These binding promises or agreement may be in written form or oral form, depending on the situation and nature of the said contract.
There are many formalities and details to be mentioned in the contract of who, how, what, when, how many and so on which are known as terms of the contract or provisions.
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In addition, if a minor has a bank account, the same bank regulations apply to the minor’s banking relationship as those imposed on adults.”
Case Law Example – Bowling V. Sperry (1962)
“Bowling v. Sperry, 133 Ind. App. 692, 184 N.E.2d 901 (1962).
Facts: Sixteen year old Larry Bowling (P) purchased a used car from Sperry (D) for $140. Bowling attempted to return the car to Sperry after discovering that the main bearing was defective and was informed that repairs would cost $45-$95. P left the car with D and mailed a letter disaffirming the contract. P sued D for the return of his money and the trial court entered judgment for D on the grounds that the contract was not voidable, because P’s aunt and grandmother accompanied P when he purchased the car and gave him the money to purchase it. P appealed.
Issue: Is a purchase contract by a minor voidable despite the participation of an adult in the transaction?
Holding and Rule: Yes. A purchase contract by a minor is voidable despite the participation of an adult in the