Contract law for minors

So a contract with minors can be taken forward for his/her own benefit .
However a minor is not competent to form a contract, nothing in the Contract Act stops him from making the other party bound to the minor.
Therefore, a promissory note executed adequately in favour of a minor is not void and could be sued upon by him.

Minors don't have the capacity to enter into contracts.
Statutes and court rulings offer the option to exit contracts to minors, at their own discretion.
The other party entering into a contract with a minor does not have the right to void a contract.
Only the minor has the discretion to void a contract on this basis.

This means that the person signing must have sufficient understanding that he's entering into a contract and the terms he's agreeing to.
For most contracts, the general rule is that while it's not illegal to enter into a contract with a minor, the contract is voidable at the discretion of the minor.

The minor entered into the contract at a time when the minor was not under the care of a parent or guardian who was able to provide for the minor or his or her family.13 This exception was passed largely in response to the plight of children who did .