[blindlaw] Businesses owned by Minors

Sun Sep 27 04:24:00 UTC 2009

Chuck:

Be careful. You are mixing different bodies of law here. Under an agency 
theory, a minor may not be able to serve as an agent of a corporation. Tim, 
on the other hand, is refering to the laws of incorpiration, which goes to 
the formation of a corporate entity. Having now thought about it, I think 
Tim is right.

Rod Alcidonis, J.D.

--------------------------------------------------
From: <ckrugman at sbcglobal.net>
Sent: Saturday, September 26, 2009 11:53 PM
To: "NFBnet Blind Law Mailing List" <blindlaw at nfbnet.org>
Subject: Re: [blindlaw] Businesses owned by Minors

> A minor does not have the capacity to be an agent of a corporation. This 
> is why many companies will require that when a minor receives or requests 
> a service such your example of renting movies a parent's name is on the 
> account as they are actually liable for the incurred fees or fines.
> Chuck
> ----- Original Message ----- 
> From: "Tim Shaw" <timandvickie at hotmail.com>
> To: <blindlaw at nfbnet.org>
> Sent: Saturday, September 26, 2009 8:39 PM
> Subject: Re: [blindlaw] Businesses owned by Minors
>
>
>
> ah but if he incorporates then it is the corporation entering into the 
> contract, not him, and a minor can enter intoa contract as an a- hehgent 
> of a company. otherwise when you didnt return your movies to blockbuster 
> on time you could say oh we dont have a valid contract. I would say 
> ncorporate and list another person as swell as him as owner and management 
> of the company, and then once he turns 18 they can just hand oer total 
> owenership to him. He could even say they only owned like 5% of the 
> company if he was worried about themt rying to take control of the cmpany.
>
>> From: ckrugman at sbcglobal.net
>> To: blindlaw at nfbnet.org
>> Date: Sat, 26 Sep 2009 20:04:39 -0700
>> Subject: Re: [blindlaw] Businesses owned by Minors
>>
>> What would pose more of a problem is that a minor unless they are
>> emancipated does not have the capacity to enter in to any legal contracts
>> that are binding in most states.
>> Chuck
>> ----- Original Message ----- 
>> From: "Aziza C" <daydreamingncolor at gmail.com>
>> To: "NFBnet Blind Law Mailing List" <blindlaw at nfbnet.org>
>> Sent: Saturday, September 26, 2009 5:52 PM
>> Subject: Re: [blindlaw] Businesses owned by Minors
>>
>>
>> Would that pose a problem considering their is not a location for this
>> label yet?
>>
>> On 9/26/09, Tim Shaw <timandvickie at hotmail.com> wrote:
>> >
>> > Id say incorporate and then get all the liscences and stuff in the name 
>> > of
>> > the company as the corporation is its own intentity;)
>> >
>> >> Date: Sat, 26 Sep 2009 16:24:51 -0700
>> >> From: daydreamingncolor at gmail.com
>> >> To: blindlaw at nfbnet.org
>> >> Subject: [blindlaw] Businesses owned by Minors
>> >>
>> >> Hi everyone,
>> >> I was wondering if there were any laws preventing minors from owning
>> >> companies/businesses. A friend of mine, aged seventeen, is hoping to
>> >> start his own record label; so I pulled up a business plan, and an
>> >> outline of what licences need to be filed for and all that fun stuff.
>> >> My question is can he be a holder of a business and or retail licence
>> >> at his current age?
>> >>
>> >> Thank you.
>> >> Aziza Cano
>> >> California Association of Blind Students Secretary
>> >> Young Energetic Students Supporting Independence, NFBC Channel Islands
>> >> Chapter President
>> >> Tack-Tiles Registered Sales Representative
>> >>
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