Asked by Zachariah Andress on May 16, 2024
Verified
Indicate under what circumstances parents are responsible for the contracts entered into by their children.
Contracts Entered
Agreements that have been formally established or agreed upon by the parties involved.
Parents Responsible
The legal principle that parents or legal guardians are liable for the actions and conduct of their minor children.
- Understand the legal capacity required to enter into contracts and the exceptions based on age, mental condition, and status.
Verified Answer
AA
Alexandra ArouxetMay 18, 2024
Final Answer :
Only where the child was acting as an agent for the parent will the parent be bound in contract, or where the parent has co-signed or guaranteed the transaction.
Learning Objectives
- Understand the legal capacity required to enter into contracts and the exceptions based on age, mental condition, and status.