As in any other valid contract, each party enters by voluntary agreement, either implicitly or explicitly (

). Parents enter into the contract by implicit agreement when they bring the child into the world—an action which (except under extraordinary, coercive circumstances) is voluntary and carries with it the implicit acceptance that the child's life is a value. If custody is ceded to a guardian, the latter obviously enters the contract by explicit agreement. The newborn child, of course, is unable to make legal decisions. The contract therefore must represent the child's interests in the absence of his or her explicit legal consent, in much the same manner as a will is executed in the absence of the deceased or a living will in the absence of a patient's present consent.

The contract is applicable until such time as the child is able to function in the manner of a competent adult, but may be extended by the mutual consent of all parties. Traditionally, the point at which an individual becomes legally competent has been determined by an age of majority. In practice, however, some individuals are ready to accept such responsibility at an earlier age than others. Consequently, in a free society individuals could petition for an early recognition of legal majority. In rare cases (for example, if the child is severely retarded), it might be necessary to extend the age of minority by an objective legal process. In the absence of such special legal actions, the default age of majority could be determined either by legislation or by means of legal precedent.

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