Final answer:
True, parents are not liable for contracts made by their minor children when the children are acting on their own.
Step-by-step explanation:
The statement is true. Parents are generally not liable for contracts made by their minor children when the children are acting on their own. Minors lack the legal capacity to enter into contracts, and therefore, the responsibility for fulfilling the terms of the contract usually falls on the minor themselves.
For example, if a minor purchases an item online without their parents' consent, the parents would not be held financially responsible for the payment.
However, it's important to note that there are exceptions to this rule in certain circumstances, such as when the contract involves necessary items for the minor's well-being, or when the minor is acting as an agent of their parents' business.
Learn more about Parental Liability for Minors' Contracts