N.Y. General Obligations Law Section 3-103
Contracts pursuant to the “Servicemen’s Readjustment Act of 1944” as amended

  • when they may not be disaffirmed

1.

A veteran, eligible for the benefits provided for in Section 1801 and following of Title 38 of the United States Code, and the spouse of such veteran, regardless of the minority of either or both and without limitation of the powers of any such person who is of full age, shall each have power (a) to enter into and contract for a loan or loans to such veteran pursuant to such title;

(b)

to receive, hold and dispose of real or personal property, make and execute contracts, notes, deeds, mortgages, agreements and other instruments, and take any other action, to the extent necessary or appropriate to effect any such loan, provide security therefor, carry out or modify the terms thereof, and effect any compromise or settlement of any such loan or of any claim with respect thereto; and

(c)

to dispose of real or personal property so acquired and make and execute contracts, deeds, agreements and other instruments necessary or appropriate for such purpose.

2.

Notwithstanding any contrary provision or rule of law, no such veteran or spouse shall have the power to disaffirm, because of minority, any act or transaction which he or she is hereinabove empowered to perform or engage in, nor shall any defense based upon minority be interposed in any action or proceeding arising out of any such act or transaction.

Source: Section 3-103 — Contracts pursuant to the "Servicemen's Readjustment Act of 1944" as amended; when they may not be disaffirmed, https://www.­nysenate.­gov/legislation/laws/GOB/3-103 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 3-103’s source at nysenate​.gov

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