Multistate Bar Examination Practice Question

The correct answer is that the contract is voidable by the student. The general rule is that a contract entered into by a minor is voidable at the minor's option. This means the minor has the power to disaffirm (void) the contract at any time during their minority or for a reasonable time after reaching the age of majority. A contract that is 'void ab initio' is invalid from the start, which is not the case here, as the minor can choose to enforce it. The contract is not 'unenforceable by either party' because the adult party is bound by the agreement if the minor chooses to enforce it. While there is an exception for necessaries, a high-end laptop is unlikely to be deemed a legal 'necessary' for a high school student, making the contract for it enforceable; therefore, that option is incorrect.