Hello all legal experts. I do have a question about a contract and whether it's voided or not. I signed a 10-year contract with a multimillion-dollar company when I was 16 years old. This contract basically doesn't allow me to compete with the company... Obviously I was underage when I signed the contract and when it was dated. I am soon to be 18 years old and am wondering if this contract is valid or not. I know that it is not valid right now because I am still underage, but am wondering since I will be turning 18, if the moment I am 18, if it is valid... I wouldn't think so since the entire agreement would be void, since I wasn't legally liable to sign the contract anyway since I was underage?
It is still void. I learned this in school last year. It's like if you are under the influence (drunk) when signing the contract, even if its 10 years later it is still void. Since it is void because you were underage when you signed it it can never become a valid contract again. If your parents co-signed or something it is a valid contract, so watch out. I am not an expert so wait for someone else to answer before you do anything.
Did your parents or guardian give consent? Where was the contract entered into? Did you represent yourself as being 16 years old? Do you want to return whatever consideration you received for signing the contract? Laws vary by state, and I think it might be very hard to enforce a non-compete for a 10-year period regardless of your age. I don't know your details, but I would think that such a period is not going to be considered "reasonable" i.e. able to hold you to it.
The company did not ask my age and my parents did not consent to the agreement or my signature. My guess is that the contract is void, because I was simply underage. It was the irresponsibility of the company, IMO.
This is something that needs to be looked at by an attorney. If they can prove they had reason to believe you were 18, you can be held responsible. In the event that the contact is void, they can still go after whatever it was that they paid you. If you can legally get out of the contract, the consideration given needs to be returned. I would explore the angle that a ten year non-compete is not enforceable. Usually these types of arrangements can last only 3, and sometimes 5 years.
Actually, technically, the contract is not "void", it's voidable at your option. In most states, that's true until your 18th birthday and in some states for "a reasonable time" after. This is the case in New Jersey and NY. Deena _________________________________________________________________________________ Any opinions are offered without knowledge of the specific law of your jurisdiction and with only the limited information provided in your post. No advice given here should be reasonably relied upon by you or any third party without consulting an attorney who is aware of all of the facts and law surrounding your situation. Any advice given here is not intended to create an attorney-client relationship in any way.
VOID you are in the clear no parents underage = no contract. I would see before you are 18 soon though just in case.