Q: Hello, I am wanting to start a small business, but I am 16 and do not know the legal specifications to meet.
Persons who are under the age of eighteen are not empowered by law to make their own agreements or obligations. The rule, generally speaking, is for the benefit of the minor, so that the minor is not committed to some obligation not in her or his benefit.
Before you turn eighteen, your parent or legal guardian would be able to enter into obligations on your behalf. It would be good to have a written document that describes the undertaking as you are proposing it and the adult confirms that obligation and the handover to occur at a future time is explicitly stated. The purpose of the written document would be to avoid confusion between the person's private interest and his or her fiduciary interest as your protector.
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