An agreement may be made between the parents and the child whereby the child leaves the parents' home and establishes an independent life. Once this happens, the parents relinquish the right to custody and supervision of the child. Another important meaning of emancipation is that it ends the parental obligation of support.
Another important legal consideration relates to the effect of commercial dealings of persons who, but for emancipation, would have been minors. Once a nearly absolute defense, modern law has significantly restricted the effect of minority as a legal defense to contractual obligations to third parties. Thus, an emancipated 16-year-old girl who signs a contract to buy a car cannot avoid the terms of the contract by later PLEADING that she was underage and could not legally bind herself.
The issue of emancipation has declined in importance because most states have made 18 years the age of majority. The most serious questions concerning emancipation involved the age spread from 18 to 21 years.
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