8בּוֹדְקִין אֶת הַקָּטָן אִם יוֹדֵעַ בְּטִיב מַשָּׂא וּמַתָּן אוֹ אֵינוֹ יוֹדֵעַ. לְפִי שֶׁיֵּשׁ קָטָן חָכָם וְנָבוֹן שֶׁהוּא יוֹדֵעַ וְהוּא בֶּן שֶׁבַע. וְיֵשׁ אַחֵר שֶׁאֲפִילוּ בֶּן שְׁלֹשׁ עֶשְׂרֵה אֵינוֹ יוֹדֵעַ בְּטִיב מַשָּׂא וּמַתָּן. קָטָן הַיּוֹדֵעַ בְּטִיב מַשָּׂא וּמַתָּן שֶׁאֵין לוֹ אַפּוֹטְרוֹפּוֹס שֶׁנָּשָׂא וְנָתַן בְּמִטַּלְטְלִין וְטָעָה דִּינוֹ כְּדִין הַגָּדוֹל. פָּחוֹת מִשְּׁתוּת מְחִילָה. שְׁתוּת מַחְזִיר הַהוֹנָיָה. יֶתֶר עַל שְׁתוּת בָּטֵל מִקָּח כְּמוֹ שֶׁבֵּאַרְנוּ. וַאֲנִי אוֹמֵר שֶׁאֵין מִקַּח הַקָּטָן וּמִמְכָּרָיו בְּמִטַּלְטְלִין קַיָּמִין אֶלָּא בְּשֶׁמָּשַׁךְ אוֹ הִמְשִׁיךְ. אֲבָל אִם נָתַן מָעוֹת עַל הַמִּקָּח וְחָזַר בּוֹ אֵינוֹ מְקַבֵּל מִי שֶׁפָּרַע וַאֲחֵרִים שֶׁחָזְרוּ בּוֹ מְקַבְּלִין מִי שֶׁפָּרַע:
We test a minor to see whether or not he possesses an understanding of the nature of financial transactions. For there are some minors who are wise and astute and understand such matters even at age seven, and there are others who do not understand financial transactions even when they reach the age of thirteen. When a minor who does not have a guardian and who possesses a good understanding of financial matters errs with regard to the appraisal of an object, the same laws that apply to an adult apply to him. If the error is less than a sixth of the value of the object, he is considered to have waived the difference. If it is a sixth, the unfair gain must be returned, and if it is more than a sixth, the transaction is nullified, as we have explained. I maintain that a purchase or a sale of movable property in which a minor engages is not binding unless the transaction is concluded by meshichah. If, however, a minor paid money for an article and then reneged, the transaction is nullified.The minor is not required to receive the adjuration mi shepara. If, however, others renege on their commitment to him, they are required to receive the adjuration mi shepara.