In Washington State,
a good friend of mine got a pre-approved credit card application for $10K. He had no credit history, no job, still lived with his parents, and the kicker was, he was still 17 years old. He could have theoretically gotten the CC, and charged a $10K car and never made a payment. The CC company would have eventually gotten the car, I assume, but he would not have been liable, being a minor. That is the point, as a minor, you are not responsible for any contract you sign, or business you conduct and default on. It is kind of like in California, if you hit someone in their car, from behind, you are automatically at fault, no matter whose "fault" it was, because the assumtion is that the car in back should have stayed back a distance to avoid any accident.
Dave