Q: What types of contracts may relate to a minor and what basic rulings apply?
الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب
A: There are three basic types of contracts that may relate to a minor:
1. Contracts that are only beneficial for a minor. E.g., acceptance of gifts, charity or wills. Such contracts do not require the approval of the minor and can be executed by the minor himself.
2. Contracts that cause a loss or depreciation of wealth for the minor, whether for a good cause or otherwise. E.g., giving gifts or charity. A minor cannot execute such contracts, nor can his guardian, and nor can the guardian approve such contracts.
3. Contracts that have the potential of both benefit and loss. Such contracts require the approval of the guardian.