Parental consent allows 15-year-olds to be recognized as traders, legal expert says
A legal advisor says 15-year-olds granted parental consent to trade are considered full-fledged traders and bear full responsibility for their business actions.
Key Takeaways
AILegal advisor Waleed Al-Dulbahi has stated that if a guardian gives permission for a 15-year-old to engage in commercial activities, the minor is recognized as a trader and treated as fully competent. The minor then becomes responsible for all commercial actions, including signing contracts and other transactions, and bears full liability for them.
Speaking on the "Ya Hala" program aired on Rotana Khalijia, Al-Dulbahi added that the child, in this case, is solely responsible for their commercial dealings, such as entering into contracts, buying, and selling, and is liable within the limits of their own financial obligations related to the investment they undertake.
He further explained that the child's liability is limited to their investment activities, making them accountable to creditors. However, the guardian or custodian is not responsible for any failures unless they have jointly assumed liability or signed the relevant documents and contracts.
View the post on X