can i make a legal contract by my self?
me and my older friend are switching phones and if his phone (the phone i switched with) gets lost i dont want him being like give me my phone (the one we switched with) back.... so can i or not? please help!
Update:um yea haha im only 14 and how do i make it legal
Answers & Comments
Verified answer
Yes. If the phone is worth more than $500 then the contract must be in writing. Otherwise a verbal contract is binding. Still, it's better to get things in writing just in case.
Edit: You can still make a contract at 14 but you can back out any time you want and void the contract. This means you have to return anything you've bought and you get a full refund. However, if you make a contract with an adult they are legally bound by the contract. They can't back out - only you can. This is why almost nobody will make a contract with a 14 year old.
To my knowledge, there's nothing special about a contract that makes it legal. It serves as physical evidence of an agreement, and if a legal issue should ever arise concerning that matter, the contract serves as evidence in any court.