A contract with a minor which is enforceable and binding on both parties is called:

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Quizplus · Accepted Answer

A valid contract is one that is legally binding and enforceable on both parties. Even if one of the parties is a minor, a contract can be valid if the minor is deemed to have legal capacity to make the agreement. This may occur if the minor is deemed to have the ability to understand the nature and consequences of the agreement, and is acting in the role of an adult. A voidable contract is one that can be cancelled or annulled by one or both parties, while a void contract is one that is not legally enforceable. A good contract is not a term used in legal contexts.

A Contract with a Minor Which Is Enforceable and Binding