Q: If my minor partner and I sign an operating agreement for our manager-managed LLC, who is legally bound to the contract?
If my minor partner and I sign an operating agreement for our manager-managed LLC, who is legally bound to the contract? Is it enforceable for both my minor partner and me? If my minor partner doesn’t void the contract and follows its terms, does the contract remain valid? If both my minor partner and I comply with the agreement, is it considered a real, enforceable legal contract, and are we both obligated to follow its terms?
Even if the contract is unenforceable on my minor partner's side, are the terms enforceable when I sign it? For example, can my minor partner legally become the manager or the owner once I sign operating agreement says minor member is the manager and the owner, even if the contract isn’t enforceable against them?
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