Reed, a 15-year-old, has run out of money while on a trip away from home. Martha gives him food, a place to sleep, and his bus fare home, in exchange for Reed's promise to pay $200 after he got home. Is Reed's promise enforceable?
Food, clothing, housing, and medical care are necessaries. The bus fare would probably be considered a necessary as well, although it may be debatable depending on how far the minor is away from home. The rule for a contract involving necessaries is that a minor must pay for the value of the benefit received. In other words, Reed may be able to disaffirm the contract, but he is liable for whatever benefit he obtained from Martha.
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An order for 1,850 shares of stock involves
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