Tennessee Real Estate Exam Practice Question
Minors are held liable for real estate contract obligations if they
Correct Answer: D
Rationale: Minors can enter into contracts, but they typically lack the legal capacity to be fully bound by them. However, if a guardian co-signs a contract, it provides the necessary legal backing, making the minor liable.
Option A is incorrect; age alone does not determine liability, as minors under 18 generally lack capacity. Option B is misleading; notarization does not confer legal capacity to minors. Option C is also incorrect; graduating high school does not equate to legal maturity in contract law. Thus, having a guardian co-sign is essential for holding minors accountable in real estate contracts.
Unlock All Questions
Subscribe to Premium for full access to all practice questions, detailed rationales, and performance tracking.
Subscribe Now