Section 18-42-102 - Contracts of minors(a) The contract of a minor when approved by the parent having control of the minor, or, in case there is no parent, when approved by his or her guardian, or the contract of a minor over fifteen (15) years of age having neither a parent or guardian shall be binding.(b) However, a contract with the minor shall not be for a longer period than one (1) year.Acts 1883, No. 96, § 2, p. 176; C. & M. Dig., § 6881; Pope's Dig., § 8837; A.S.A. 1947, § 51-504.