Nevada Timeshare License Practice Exam

If a 17-year-old purchaser's right to cancel a timeshare has expired, what can he do?

1. Nothing, he must keep the timeshare

2. Cancel the timeshare at any time

3. Take action to have the contract voided

4. Transfer ownership to another person

The correct answer is: Take action to have the contract voided

In this scenario where a 17-year-old purchaser's right to cancel a timeshare has expired, the correct course of action would be to take action to have the contract voided. This is based on the legal doctrine of capacity. Individuals who are minors, typically those under the age of 18, have the ability to void contracts they have entered into. This includes timeshare agreements. Even if the right to cancel has expired, the minor can still challenge the validity of the contract because they are not of legal age to fully understand or consent to such agreements. This protection exists to prevent minors from being bound by contracts that they may not fully comprehend, thus allowing the minor to seek to have the agreement annulled. The other options present limitations that can be misleading. One cannot simply do nothing, as minors have rights under the law to contest such agreements. Canceling the timeshare at any time is not accurate, since the right to cancel typically has a specified period. Transferring ownership could be an option in some contexts, but it may not be advisable or legally enforceable since the original contract is still subject to being challenged due to the age of the individual. Therefore, taking action to have the contract voided is the most appropriate