Invalidating a contract what makes a good online dating headline
You've probably seen some of the Western movies with the evil rancher baron forcing his smaller neighbors off their ranches and making them sign the sale at gunpoint.
That's definitely a no-no, and I'm sure it was then as well.
You find out that a 15-year-old has inherited a prime piece of real estate and you really want it.
Don't have them sign a sales contract and expect it to hold up in court. If someone is in an institution or getting special care to handle their affairs, the same thing applies.
The consideration must be spelled out in the contract.
Since only one party is mistaken, it could lead to an unfair advantage in bargaining power.
The parties to a contract must all be legally competent to enter into an agreement.
This includes being of legal age and mentally competent at the time of entering the contract.
That doesn't mean cash, as there will often be financing involved as well.
Earnest money does move with the agreement, while the down payment and financing come at closing.