A buyer has executed a contract to purchase real property. If it is discovered that the buyer is only 16 years old, the contract is

A contract is deemed void when it lacks legal effect from the outset, typically due to illegality or incapacity. However, contracts with minors are not void; they are voidable, meaning a minor can choose to affirm or reject the contract. Thus, this option does not accurately reflect the legal status of the contract in question.

A binding contract implies that both parties are legally obligated to uphold their terms. Since minors have the legal right to void contracts they enter, the contract is not binding on the minor. Therefore, this choice misrepresents the nature of contracts involving minors.

While a contract with a minor may be unenforceable against the minor, it can still be valid and enforceable against the other party until the minor chooses to void it. This means that the contract remains effective until the minor acts to void it, making the term "unenforceable" insufficient to describe the situation accurately.