Short answer. Yes, it can. Article 1407 says a contract where both parties were incapable of consent can still be cured. If the parent or guardian of one party ratifies it, the contract is treated as if only one party had been incapacitated, making it voidable. If the parents or guardians of both ratify, the contract is validated from the very start.
What the law says
express or implied ratification by the parent, or guardian, as the case may be, of one of the contracting parties shall give the contract the same effect as if only one of them were incapacitated
Civil Code, Article 1407 — Both Parties Incapable. Read the full provision →
What the law says
If ratification is made by the parents or guardians, as the case may be, of both contracting parties, the contract shall be validated from the inception.
Civil Code, Article 1407 — Both Parties Incapable. Read the full provision →
A contract by two incapables starts out unenforceable
When both people who entered a contract were incapable of giving consent, for instance both were minors, the agreement is defective from the outset because valid consent from neither side supports it. On its own such a contract cannot be enforced. But the Civil Code does not treat it as beyond rescue. Article 1407 provides a path by which the involvement of those who can supply the missing consent, the parents or guardians, can give the contract legal force, either partially or fully depending on who ratifies.
Ratification by one side makes it voidable
The first step up is ratification by one party's parent or guardian. The article says that express or implied ratification by the parent, or guardian, as the case may be, of one of the contracting parties shall give the contract the same effect as if only one of them were incapacitated. In that state the contract is voidable rather than void: it stands unless the still-incapacitated side, through the proper person, moves to annul it. One ratification, in effect, lifts the contract into the ordinary category of an agreement with a single incapacitated party.
Ratification by both validates it from the start
The full cure comes when both sides ratify. If ratification is made by the parents or guardians, as the case may be, of both contracting parties, the contract shall be validated from the inception. Once both of the persons who can supply consent approve the agreement, the earlier defect disappears as if it had never existed, and the contract is treated as valid from the moment it was made. The retroactive effect means the parties are bound as though the incapacity had never clouded the agreement in the first place.
The practical takeaway
So a contract made between two incapacitated parties is not automatically a dead letter. Its fate turns on ratification. With no ratification it cannot be enforced; with one party's guardian ratifying it becomes voidable and precarious; with both ratifying it becomes fully valid, and valid from the beginning. Anyone dealing with such a contract should look to whether the appropriate parents or guardians have approved it, because that approval is what determines whether, and how firmly, the agreement holds.