In Malaysia, the legal age to enter into a contract is 18 years old. This is in line with the age of majority, which is defined as the age when a person has legal rights and responsibilities. Prior to reaching the age of majority, individuals are not legally deemed capable of making decisions and entering into legally binding agreements.
This age limit is applicable regardless of the type of contract being entered into, whether it be for employment, rental or purchase agreements, or financial transactions. Any contract signed by an individual below the age of 18 is considered voidable at the option of the minor. This means that the minor has the right to cancel or disaffirm the contract without any legal repercussions.
However, there are certain exceptions to this rule. For instance, minors are permitted to enter into contracts for necessities such as food, clothing, and shelter. Additionally, they are also able to sign contracts for educational purposes or apprenticeships. In these cases, the minor is still bound by the contract and cannot disaffirm it.
It is important to note that while minors are not legally bound by contracts, they are still held responsible for any damages or losses caused as a result of their actions. As such, it is essential for parents or guardians to closely monitor their children`s activities and ensure that they are aware of the risks associated with entering into contracts before they reach the age of majority.
In conclusion, the legal age to enter into a contract in Malaysia is 18 years old. While minors are not bound by contracts, they may still be held liable for any losses or damages caused as a result of their actions. It is therefore important for parents and guardians to educate their children on the importance of responsible decision-making and to supervise their activities until they reach the age of majority.