Olivia Rodrigo formed a contract at age $17,$ and last week she turned $18$ years old. Since a minor's disaffirmance of a contract must occur before or within a reasonable time after the minor reaches the age of majority, what constitutes a "reasonable time?"

A reasonable time is determined on a case$-$by$-$case basis.

Federal statutory law requires that the former minor must disaffirm the contract within three $(3)$ months after reaching the age of majority.

Within one $(1)$ year after reaching the age of majority.

Whatever the former minor deems equitable under the circumstances of the case.

State laws vary, but the minimum time is three $(3)$ months.