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Trystan and Nia enter into a contract for the sale of a tiny house. Trystan is 17. Closing is supposed to occur in two weeks. This contract is:
Suggested Answer: C
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A contract is executory when its terms have not yet been fully performed (here, closing has not yet occurred).
Because Trystan is 17 years old, he is a minor under Virginia law (legal capacity begins at 18). A minor's contract is generally voidable at the option of the minor, but enforceable against the adult party.
Therefore, this contract is executory (not yet performed) and voidable (due to Trystan's age).
Code of Virginia 1-204 (Age of majority = 18)
Virginia Real Estate Board Exam Outline -- Contracts (capacity, validity, executory vs executed)
23 comments · newest first
DO
Dorothy
23 days ago
So, C makes the most sense. Good reasoning!
LI
Lizbeth
28 days ago
Yes, exactly! It's still in progress.
TH
Thersa
1 month ago
But isn't it also executory since closing isn't done yet?
JE
Jeannetta
1 month ago
I agree with Marjory. Minors have that right.
MA
Marjory
1 month ago
Trystan is a minor. Contracts can be voidable.
DE
Denny
2 months ago
Why do you say that?
MA
Marjory
2 months ago
I think it's C) executory and voidable.
EM
Emmett
2 months ago
I feel confused about the terms. Can someone explain?
EM
Emelda
2 months ago
True, but the voidable part is key here.
BR
Brinda
2 months ago
But isn't it also executory since closing isn't done?
RE
Renea
2 months ago
I agree, minors can cancel contracts.
TR
Trina
3 months ago
Trystan is a minor, so he can void it.
EM
Emelda
3 months ago
Why do you say that?
TR
Trina
3 months ago
I think it's C) executory and voidable.
LA
Lacresha
3 months ago
I disagree, it should be void since minors can't contract!
WH
Whitley
3 months ago
Wait, can a 17-year-old even enter a contract?
SO
Solange
4 months ago
Definitely C, executory and voidable!
DE
Deeanna
5 months ago
I think it's voidable because Trystan is a minor.
GO
Goldie
5 months ago
It's executory since closing hasn't happened yet.
MA
Marsha
6 months ago
I’m torn between A and C. I know minors can void contracts, but does that make it executory too?
DI
Diego
6 months ago
I feel like I saw a similar question in our practice exam. If a minor enters a contract, it’s usually voidable, right?
AR
Artie
6 months ago
I'm not entirely sure, but I remember something about executory contracts being those that haven't been fully performed yet. So maybe it's executory and voidable?
JU
Judy
6 months ago
I think this might be about minors and contracts. If Trystan is 17, isn't the contract voidable?