A contract is an agreement between two or more persons who make promises to each other that are legally enforceable.  A contract can be a written document, or just an oral agreement, but it cannot be for an illegal purpose. Contracts are part of many everyday transactions like buying a car, leasing an apartment, buying insurance or accepting the terms of a new job. A contract will require you to fulfill obligations that you agree to.  So if you are considering signing a contract, make sure you understand everything it requires you and the other party to do.

• Read the contract completely before signing
• Don’t sign anything until you are sure you understand it.
• If you don’t agree with something in the contract, talk to the other party about changing or taking it out.
• Do not sign a contract with blank spaces — either fill them in or cross them out.
• Be sure to keep a complete, signed copy of the contract.

If you are 18 or older, you probably cannot get out of a contract that you signed without reading or understanding it. You are responsible for reading and understanding the terms of the contract before you sign it.  Breaching a contract — failing to pay a debt when and how the contract requires, for example — can lead to serious consequences.  You could be sued and may need to hire an attorney to protect your interests.  If you lose your case, you may have to pay a money judgment plus interest and, sometimes, if the contract requires it, the other side’s costs and attorney fees.  Failing to pay money you owe under a contract can also have a bad effect on your credit score.

With some exceptions, a contract with a person under the age of 18 cannot be enforced.  A minor may be able to rescind or cancel the contract at any time for any reason.  This rule of law is designed to protect minors from being talked into contracts they do not have knowledge or experience to fully understand.  This rule does not apply to student loan agreements or contracts for necessities such as food, clothing, shelter, and some medical services.  If an adult co-signs an agreement with a minor, the adult may have to comply with the contract even if the minor does not.

With some exceptions, a contract with a person under the age of 18 cannot be enforced.  A minor may be able to rescind or cancel the contract at any time for any reason.  This rule of law is designed to protect minors from being talked into contracts they do not have knowledge or experience to fully understand.  This rule does not apply to student loan agreements or contracts for necessities such as food, clothing, shelter, and some medical services.  If an adult co-signs an agreement with a minor, the adult may have to comply with the contract even if the minor does not.

Yes. You can rescind the contract because you are a minor and your parents did not co-sign it. But you must return the motorcycle. If the motorcycle has been used or damaged, you probably will not get back all of any money you have already paid.