Question

Larry is a minor, age 16 years old.

Larry decides to purchase a cell phone from Sprint.
Larry signs a written contract with Sprint to buy the cell phone and pay $75.00 per month for the cell phone plan for a time period of 2 years.
Sprint agrees that Larry will pay $75.00 per month for 2 years for the cell phone plan.
Larry and Sprint sign a written contract on April 1, 2021. Larry makes his first payment of $75.00 on April 15, 2021.
The written contract states that Larry will pay $75.00 per month for the cell phone plan on the 15th day of each month for 2 years.
WHAT IS ENTIRELY TRUE:
The contract is considered a VOID contract when it was signed by Larry and Sprint because Larry is a minor and Sprint cannot enforce the contract against Larry because Larry entered into the contract when he was a minor.
The contract is a VALID contract but is also a VOIDABLE contract on the part of Larry AND on the part of Sprint.
The contract is NOT voidable because the contract was signed in writing by both Larry and Sprint, pursuant to the Statute of Frauds.
The contract is a VALID contract but is also a VOIDABLE contract on the part of Larry but NOT on the part of Sprint.

Answer 1

What is entirely true about this contract is:

The contract is a VALID contract but is also a VOIDABLE contract on the part of Larry but NOT on the part of Sprint.

Step-by-step explanation:

As a minor, Larry (he was under the age of 18 when he signed the contract with Sprint) lacks the contractual capacity to enter into the contractual relationship with Sprint. But since he has signed the contract in exchange for the purchase of the cell phone, Larry can either honor the deal or void the contract. This is why the contract is said to be valid but voidable at Larry's behest. However, after Larry has turned 18, if he has not done anything to void the contract, then the contract with Sprint can no longer be voided.