61. A buyer has executed a contract to purchase real property. If it is discovered that the buyer is only 16 years old, the contract is
Answer: D
The contract is voidable as to the minor's interest.
In this scenario, since the buyer is only 16 years old, the contract can be voidable at the minor's discretion, allowing them to choose to enforce or void the contract.
A) void.
This option is incorrect because a contract is not automatically void simply due to the age of one party. While minors can void contracts, it does not mean the contract is void from the outset.
B) binding.
This option is incorrect as well. A contract with a minor is not binding in the same way it is with an adult, as minors have the right to disaffirm the contract if they choose to do so.
C) unenforceable.
This choice is not accurate in this context. While contracts with minors may be unenforceable against the minor, they are not universally unenforceable. The minor can choose to enforce the contract if they wish.
D) voidable as to the minor's interest.
This option is correct because it recognizes that the minor has the legal right to disaffirm the contract. The contract remains valid unless the minor decides to void it.
Conclusion
The correct answer highlights the unique legal standing of minors in contract law, allowing them to void contracts they enter into. The other options fail because they mischaracterize the nature of contracts involving minors, either by suggesting they are completely void or binding, ignoring the minor's right to disaffirm.