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A contract for the purchase of real estate made by a 17-year-old is classified as voidable. This is primarily due to the age of the individual involved in the contract. In Nevada, as in many other states, the legal age to enter into binding contracts is typically 18. Therefore, a minor, such as a 17-year-old, has the capacity to enter into a contract, but that contract can be voided at the minor's discretion.
The law provides this protection to minors to ensure they are not held to agreements that they may not fully understand or that may not be in their best interest. While the minor can choose to enforce the contract, they also maintain the right to void it before reaching the age of majority (18 years old in Nevada) or within a reasonable time after reaching that age. This duality reflects the law’s intention to protect minors from being exploited in contractual agreements.
The other possible classifications, such as enforceable, indefeasible, or void, do not apply in this context. A contract being enforceable would imply that all parties are bound by its terms, which is not the case for a minor as they possess the option to void it. Indefeasible suggests that the contract cannot be undone