Ark. Code Ann. § 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.