Discuss the legal capacity of minors in contractual matters

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Assignment:

SCENARIO: Jake, a 17-year-old high school student, is passionate about technology and decides to upgrade his smartphone. He visits a local electronics store that offers a financing plan for the latest model. Despite being a minor, Jake is determined to acquire the new device and enters into a financing agreement with the store.

QUESTIONS: Given Jake's status as a 17-year-old, can he legally enter into a contract, such as a financing agreement for a smartphone? Consider the legal capacity of minors in contractual matters and discuss the factors or conditions that may influence Jake's ability to enter into such agreements. (Additional research required for these next questions.) List at least four kinds of contractual agreements that have the potential to be legally enforceable against minors. Explain why you think these can be enforceable when other types cannot. Justify your response and specifically refer to your research.

What I have Started: As Jake is still a minor he has to have his parents' consent or knowledge. The only exception is if he was emancipated.

Reference no: EM133659946

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