Parental consent allows 15-year-olds to be recognized as traders, legal expert says
A legal advisor says 15-year-olds granted parental consent to trade are considered full-fledged traders and bear full responsibility for their business actions.
Waleed Al-Dulbahi, a legal advisor, has clarified that 15-year-olds who obtain parental consent to engage in trading activities are treated as fully competent traders. With the guardian's permission, the minor assumes full responsibility for all commercial actions, including signing contracts and making purchases and sales. In this capacity, the child is solely accountable for their investment-related transactions and is liable within the confines of their own financial commitments.
The child's liability extends to creditors, but only for their personal investment activities. However, the guardian or custodian is not held responsible for any shortcomings unless they have jointly assumed responsibility or signed the pertinent documents and contracts.
Written by urgent.news from Ajel English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
