The legal position of a minor in the sector of trade : a comparative study

Abstract

Since contractual capacity is attained at the legal age, a minor is proscribed from entering into legally binding contracts. This curtailment makes it almost impossible for the minor to establish himself in the world of trade. Nevertheless, continental commercial codes, dating as far back as the seventeenth century, provided the legal mechanism of emancipation which serves as a point of departure from the general principle of the law concerning age. This faculty bestows upon the minor, by fictio juris, the contractual capacity to engage in trade. Although the procedure for emancipation and its effects may differ from one legal system to another, the main effect of emancipation to trade is one and the same: namely, that a minor emancipated to trade is deemed to be of legal age in all of his contracts entered into for the purpose of his trade. Accordingly, the minor emancipated to trade, forfeits his right to rescind such contracts on grounds of lesion. Although entrepreneurship can be an eye-altering experience for the minor, one cannot ignore the fact that the latter’s position in the business sector is quite delicate when considering the inevitable risks it encompasses. In fact, legislators implemented legal measures to safeguard the interests of minors - namely, the publication of the indispensable authorisation from the legal representative or from the court, and the possibility of imposing restrictions or revoking such emancipation.