Understanding Contracts for Minors in Oklahoma
Hello, I’m OKC business attorney Dillan Savage of Wirth Law Office, and I practice primarily in the Oklahoma City, Oklahoma area. Today, we are going to be discussing what contracts minors may enter into.
Oklahoma law considers that minors usually should not be able to enter into contracts. However, if a minor does enter into a contract of the same type that an adult would, they have a special power known as disaffirmation.
The Power of Disaffirmation
Disaffirmation allows minors to decide at any time that they no longer want to be bound by the contract they entered into. Essentially, they can cancel the contract without any legal repercussions.
There are limited situations where a minor will still be bound by a contract and cannot use disaffirmation to get out of it, but these instances are rare. This means that contracts entered into by minors generally come with significant risks for the adults involved.
Risks for Adults in Contracting with Minors
Minors can typically enter into contracts similar to those made by adults, but because of their disaffirmation power, it is often ill-advised for adults to engage in contracts with them. This lack of accountability on the part of the minor can lead to complications and potential losses for the adult party.
Therefore, entering into a contract with a minor can be a precarious situation, and adults should proceed with caution.
Take Action Today
If you found this video to be helpful or believe it could assist someone else, please visit TheOklahomaCityAttorney.com. For a low-cost consultation, don’t hesitate to call us at 405-888-5400. I’m Oklahoma City contract attorney Dillan Savage, and thank you for watching.
