Generally, parents are only liable for a contract executed by a minor when they cosign the agreements.

Name: Generally, parents are only liable for a contract executed by a minor when they cosign the agreements.
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When a parent cosigns for a loan or for a contract involving installment payments, the cosigner becomes a guarantor. A guarantor promises to pay the other party's debts if that party does not settle those debts personally. This promise is known as a guaranty of payment.

Generally, Parents Are Only Liable for a Contract Executed by a Minor