Situation/Case - Essay Example

Case Study Contract law has a significant impact on the individuals in all countries. This is because some of the regulations that are related to this law are not closely followed. For example, it is quite prevalent that minors are usually involved in the contract making. However, according to most jurisdictions, minors are prohibited from legally binding contracts. According to these jurisdictions, minors are considered as individuals who do not have the capability of making rational decisions.

This paper will discuss the involvement of minors in legal, binding contracts. This essay will also address the most prevalent elements of contract law and its close relationship to minors. Lastly, this article will focus on the regulations in contract law especially when making purchases. Case StudyContracts are legal agreements, which involve more than one individual. In most cases, these agreements are enforceable by the jurisdiction of a country (Stone, 2009). Contracts can be in written or oral forms.

It is also evident that contract law substantially differs from one legal system to another. In most countries, individuals who are above 18 years have the ability to engage in contracts because they are competent individuals. This asserts that individuals who are below the age of 18 are restricted from engaging in a contract since; they are incompetent (Fox, 2008). This is because most states claim that an adult is an individual who has attained 18 years of age and above. However, these rules are broken because most retailers usually sell their products to minors.

This paper will substantially focus on contract law and the involvement of minors in this law. According to this context, minors are not supposed to engage in serious transactions and contracts (Fox, 2008). The main reason why the minors are restricted from engaging in a contract is because, they do not satisfy various requirements entailed in the development of an agreement. Therefore, minors are allowed to return some of the expensively purchased items disregarding the return policy of the seller.

This is because they are prohibited from engaging in contracts until they attain the age of 18 years. In such cases, contract that involve minors or other incompetent parties are not legally enforceable.If a retailer and the minor sign a written contract, then, the return policy depends in several aspects. In this case, the minor has the legal right to return the purchased item to the retailer since; minors are allowed to cancel contracts according to most jurisdictions. In contract law, if one of the contracting parties does not adhere to the rules of the agreement, the other party can take action through the jurisdiction (Fox, 2008).

This also involves contracts which encompass individuals who are mentally unstable or those who suffer from other conditions, which affects normal thinking (Stone, 2009).The main reason why retailers continually trade with minors is based on the urge of making more sales and profits (Fox, 2008). Research asserts that most companies yearn to increase their revenue. Thus, minors are considered as the driving force in augmenting a company’s sales. This shows that most of the businessmen are quite greedy hence; do not adhere to contract law.

It is also not honest for retailers to engage with minors and other incompetent parties in contracts. In some cases, the minor is somewhat accountable for the purchase of products. This is because minors can make decisions even without the help of their guardians. The adults should educate the younger generation regarding proper ethics (Stone, 2009).In conclusion, minors are usually not aware that they are entering into a contract when buying certain products. This makes the retailer accountable since they are informed that engaging in a contract with a minor is a crime.

Retailers are advised to refrain from selling products to minors. According to most legal systems, in different countries, this is an illegal act which is usually accompanied by severe consequences (Fox, 2008). ReferencesFox, C. (2008). Working with contracts: What law school doesnt teach you? United States: Practising Law Institute.Stone, R. (2009). The modern law of contract (7th ed.). New York: Taylor & Francis Publishers.