When you enter a verbal agreement over the phone, is it still binding if it is a minor who lied about their age?

Sorry, Charlie, but I don't think it is binding. A minor does not have the legal capacity to enter into contracts. Clearly minors have the capacity to lie:) It is up to the other party to the contract (you) to determine the legal capacity of the party with whom you are contracting or bear the risk. Online sites always ask for a statement about legal capacity, but if pushed, I think that they would lose when trying to enforce their rights against a minor. I can tell you that back in the day when I entered into one of those craze record contracts as a minor, the record company knew not to push it upon discovering my age!  There are reasons to ask this question whether over the phone or online, but I'm not sure it will do you any good in court.