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What are the requirements for a minor to void a voidable contract? Just contact the other party and say "our contract is void," and stop receiving benefits and fulfilling obligations?

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To void a voidable contract, a minor must:

  1. Notify the other party that the minor is voiding the contract, and that this is because of minority. It may not be strictly required, but it is surely better practice to do this in writing and by some method that preserves a copy of the notice, and/or evidence of delivery, such as email or certified mail or (ideally) both.
  2. Return or restore all benefits already received under the contract, leaving the other party in the same position as before the contract was agreed to.
  3. Cease to receive or accept any future benefits under the contract.

If step 2 cannot be performed, because things received under the contract have already been disposed of or consumed, say, then the contract cannot be voided.

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    What happens if the minor bought a new car, which is now worth much less, but still can be returned?
    – gnasher729
    Commented Aug 17, 2022 at 17:48
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    @ gnasher729 I would need to check for sources on this, but I suspect such a contract cannot be voided, or perhaps the difference in market value must be paid to void it. Commented Aug 17, 2022 at 18:00
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    I believe that's incorrect. Minors typically can't void contracts for necessities like food, but major purchases like cars are exactly the kind of transactions the infancy defense is meant to address.
    – bdb484
    Commented Aug 18, 2022 at 4:40
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    @bdb484: Presumably "benefits received under the contract" would include the value of the use of the car for the period when the minor had it, which arguably would equal the loss in market value (because that's what it would cost anyone else to own a brand-new car for that period of time). Commented Nov 13, 2023 at 0:05

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