This section is from the book "The Law Of Contracts", by Samuel Williston. Also available from Amazon: Treatise on the Law of Contracts.
What action on the part of the former infant is requisite to deprive him of his privilege or is sufficient permanently to avoid his contract is elsewhere considered.45 It is enough here to observe that whatever be the nature of the infant's privilege-whether merely to disaffirm what would otherwise be good, or to validate what would otherwise be bad-a new promise made after he reaches maturity, though made without consideration, deprives him of that privilege. Nor is this a case merely of election,46 for a new promise may impose liability upon the former infant though the consideration for his obligation has been wholly enjoyed 46a so that his acceptance of liability or surrender of a defence gives no correlative right. Nor is it properly speaking waiver,47 since its validity is not dependent on action by the promisee in reliance on the promise.
 
Continue to: