PSI Oklahoma Real Estate Practice Test

For a contract signed by a minor to be voided, who must initiate the action?

1. The other party

2. The minor

3. A legal guardian

4. The court

The correct answer is: The minor

In the context of contracts involving minors, the law typically allows minors the ability to void contracts they have entered into. This protective legal principle acknowledges that minors may not fully comprehend the ramifications of their actions or decisions, thus safeguarding their interests. For a minor to void a contract, it is the minor themselves who must initiate the action. This means that the minor has the choice to affirm or void the contract upon reaching the age of majority or under certain circumstances, like if they find the terms unfavorable. By giving this power to the minor, the law ensures that they are actively engaged in protecting their rights and can seek to annul agreements that they may not fully understand or wish to adhere to. In comparison, although a legal guardian can act on behalf of the minor in many legal contexts, it is ultimately the minor's right to void the contract. The other party or the court does not hold that same authority regarding a minor's ability to terminate a contract they entered into.