This is not going to work as contracts with minors are not enforceable, except for certain limited exceptions, namely contract for necessities. So this reason, many will be reluctant to do business with a minor as they could negate the agreement.

Depending on what you are trying to achieve, there maybe other tools you can use. Feel free to contact my office, or another business attorney in your area to further discuss your goals.

Jim Betinol

Partner

Withrow and Betinol Law

www.wibelaw.com

E: betinol@wibelaw.com

P: 424.229.2560

F: 424.258.7001

Disclaimer: This communication does not create an attorney-client relationship and such a relationship can only be formed through a signed written agreement. This communication is not legal advice and should not be solely relied upon in making your legal decisions. Any situation depends on many different facts and specific laws that require an in-depth legal consultation to evaluate the best solution for your needs.

Not only is the contract for sale of the business going to create problems, the minor will have trouble conducting the business, for the same reason. Who would sell to a business that might not be obligated to pay? Who would work for the minor?

One possible solution is for the minor to seek emancipation. Another might be to appoint a trustee or guardian.

A final consideration is whether the transaction (sale to the minor) was bona fide or some kind of fraud on the seller's creditors. Disposing of assets for less than fair value can be deemed a fraud on the transferor's existing or feared future creditors.

Yes, it can be made to work easily by forming a corporation for the business. Depending upon the business, that would generally be wise, regardless of the age issue. Dealing with outside companies and people might occasionally require you have an adult as a company 'officer' or employee who is authorized to sign contracts for the company. If serious about getting legal help in this, feel free to contact me.