A 17-year-old high school student entered into a written agreement with an electronics store to purchase a new high-end laptop for $1,500, payable in monthly installments. The student used the laptop for one month for schoolwork and social media. Deciding the payments were too expensive, the student now seeks to return the laptop and cancel the agreement. What is the legal status of the contract between the student and the store?
Void ab initio because the student is a minor.
Enforceable because the laptop is a 'necessary' for a student.
Unenforceable by either party until the student reaches the age of majority.
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.
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