In Connecticut there is no age restriction for registering a company.
If two people under the age of 18 create a LLC Operating Agreement with investors establishing the equity for each partner in return for their investment, is the contract binding under CT law? Can the minors back out at any time? If they dont back out, is the contract valid?
Furthermore, if the investors agree to deposit their capital investment by date X, and fail to do so. It the contract void? Are the minors capable of suing under CT law?If the contract is void or voidable, how could the minors create a valid contract distributing equity to investors?
Generally speaking, an emancipated minor may contract in CT. If the two people under age 18 are serious about their business, the proper thing to do is to consult with a local attorney to fully review the rights, options and obligations of all interested parties before taking any further action. You can find local attorneys by searching among the profiles here on Avvo. Good luck!
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Ms. Brown may be reached at 718-878-6886 during regular business hours, or anytime by email at: [email protected] All of Ms. Brownâ€™s responses to questions posted on AVVO are intended as general information based upon the facts stated in the question, and are provided for educational purposes of the public, not any specific individual, and her response to the question above is not legal advice and it does not create an attorney-client relationship. Ms. Brown is licensed to practice law in New York. If you would like to obtain specific legal advice about this issue, you must contact an attorney who is licensed to practice law in your state.
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