Tennessee Real Estate License Exam Practice Question
An adult and a minor have entered into a written contract for the sale of a property the minor has inherited. This agreement is
Correct Answer: D
Rationale: In this scenario, the contract is classified as a voidable contract. Minors have the legal right to affirm or void contracts they enter into, protecting them from exploitation. Thus, the minor can choose to uphold the agreement or cancel it.
Option A, a void contract, is incorrect because the contract is valid until the minor decides to void it. Option B, a binding contract, misrepresents the minor's ability to rescind the agreement. Option C, an illegal contract, does not apply here, as the contract itself is lawful; it simply involves a minor, which introduces the potential for voidability.
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