Minors are people who are under the age of 18 in most places. Usually, they cannot make contracts that are legally binding.

Here's why:

• The law understands that minors may not be mature enough or have enough life experience to grasp what they are agreeing to when they make a contract.
• This means if a minor makes a contract, they can choose to keep it or cancel it when they become an adult.

Exceptions:

• If a minor makes a deal for things they really need, like food, clothes, or a place to live, they might have to stick to that contract. This rule is in place so that minors can get important things they need.
• Also, in some areas, if a minor makes a contract, they can choose to keep it once they turn 18, making it a real and binding contract.

Implications:

• This ability to make contracts can make things tricky for business transactions. Companies need to be careful when working with minors because any agreement could be questioned or canceled.
• Enforcing contracts with minors might create legal issues, which can affect how businesses operate and plan for the future.

In summary, even though minors can enter into contracts, they usually can’t be held fully responsible for them. This is important to protect those who might not fully understand what they are getting into in business.