Legal Question in Business Law in North Carolina

The basic answer to that question is "yes," but it requires a lot of clarification. I am inferring that when you mean "sponsor" you simply mean that you son will use the equipment, but I am also inferring that he is not required to do so. So, this sounds really more like a simple gift. If by "sponsor" you mean that this equipment company will e.g. use your son's name or likeness,or that your son is required to use the equipment, then you have a true contract, albeit not a written one apparently. Oral contracts are generally enforceable. The issue raised by that situation is whether the agreement is binding on your son. Under traditional contract law, your son is not old enough to enter a contract that binds him (but it can bind the other side). You might want to consult with a lawyer and provide him or her with more information so that they can provide more guidance on this issue.