Business, Legal & Accounting Glossary
Adulthood in the eyes of the law. After reaching the age of majority, a person is permitted to vote, make a valid will, enter into binding contracts, enlist in the armed forces and purchase alcohol. Also, parents may stop making child support payments when a child reaches the age of majority. In most states the age of majority is 18, but this varies depending on the activity. For example, in some states people are allowed to vote when they reach the age of eighteen, but can’t purchase alcohol until they’re 21.
The age at which a person, formerly a minor or an infant, is recognized by law to be an adult, capable of managing his or her own affairs and responsible for any legal obligations created by his or her actions.
A person who has reached the age of majority is bound by any contracts, deeds, or legal relationships, such as marriage, which he or she undertakes. In most states, the age of majority is eighteen, but it may vary depending upon the nature of the activity in which the person is engaged. In the same state, the age of majority for driving may be sixteen while that for drinking alcoholic beverages is twenty-one.
Another name for the age of majority is legal age.
Child support
Homestead Exemption
Custodian
Pot trust
Driving Under the Influence (DUI)
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This glossary post was last updated: 9th October, 2021 | 0 Views.