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What is a 'contract'?
A contract is an agreement that can be enforced by law. When you buy something (a 'good or service') you enter into a legal agreement ('contract') with the seller. Most consumer contracts are not written and are not required to be written to be legally binding. However, if you are making a big purchase (e.g buying a car or a computer) it is a good idea to get the contract in writing.
How this applies to you:
Once you are aged 18 you are considered to be of “full age” and contracts can be enforced against you [1]
If you’re under 18 a contract cannot be enforced against you, unless a court finds that the contract was fair and reasonable at the time you agreed to it [2].
However, if you are under 18 you will be held to a contract of service (where you are working for someone - like an employment agreement for example) or to life insurance policies, unless the court finds that the contract is harsh and oppressive or that it would be “unconscionable” (totally unreasonable) to hold you to it. [3]
Read all contracts (hire purchase/HP, finance agreements etc.) carefully before signing. Take a copy home and call an agency with any questions before you sign it.
[1] s2 Minors’ Contracts Act 1969
[2] s6 Minors’ Contracts Act 1969
[3] s5 Minors’ Contracts Act 1969
Jeanierich |
Latest page update: made by Jeanierich
, Jul 7 2009, 8:19 PM EDT
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