Q: If I am a minor member/owner in a LLC can I sign legally binding contracts.

A: The short answer is ... "it depends" ... you would need AUTHORITY from the LLC, usually within the LLC Operating Agreement and/or approved resolutions ... along with NOTICE to the other LLC members and the other contracting parties.

A: In New York, as in many other jurisdictions, a minor (someone under 18 years old) typically lacks the legal capacity to enter into legally binding contracts. This general rule also applies to contracts signed by minor members or owners of an LLC. Here's a more detailed look at how this affects an LLC:

1. Contractual Capacity: Minors are generally considered to lack the capacity to enter into binding contracts, except for certain essential agreements (like contracts for necessities such as food and shelter). Therefore, any contracts or agreements entered into by a minor may be voidable, meaning the minor can choose to affirm or void the contract. This means that if a minor signs a contract, they could potentially disaffirm (invalidate) it at their discretion.

2. LLC Management and Operations: If a minor is a member of an LLC, their participation in the management and operation of the company may be limited. While the minor can still be an owner and benefit from the LLC’s profits and distributions, they may not be able to sign contracts or make binding decisions on behalf of the LLC due to their limited contractual capacity.

3. Legal Representation: To navigate these issues, an LLC with minor members often relies on the assistance of an adult or legal guardian who can act on the minor's behalf. In many cases, a guardian or another adult with legal authority may need to sign contracts and handle business transactions for the LLC.

To ensure compliance with New York laws and to manage the business effectively, it’s advisable to consult with a an attorney who can provide guidance specific to your situation and help address any potential legal issues related to minor members in an LLC.

A: As a minor member or owner in an LLC, you generally face limitations when it comes to signing legally binding contracts. In California, minors typically cannot enter into binding contracts unless an exception applies. Contracts signed by minors are often considered voidable, meaning they can be canceled by the minor at any time before reaching the age of majority, which is 18 in California.

If you are under 18 and involved in an LLC, there are additional considerations. While you can be a member or owner, the ability to sign contracts may depend on the nature of the contract and the specific circumstances. In some cases, a parent or guardian may need to co-sign to make the agreement binding.

It's important to assess the type of contract and understand the risks involved. Contracts involving significant obligations or financial commitments might require extra steps to ensure they are enforceable. Consulting with someone knowledgeable in business law can help you navigate these complexities and protect your interests.