KRS 384.090: Enforceability of contracts of infants executed to obtain benefits of federal
Where this section sits in the code
- KRS Chapter 384
law providing for the making or guaranty of loans to war veterans.
When the repayment, by the borrower, of money advanced or to be advanced under a
contract of loan or credit has, on application of the borrower, been made by or guaranteed
in whole or in part by the federal government or any agency thereof, under authority of
federal law enacted for the benefit of war veterans, the borrower shall not thereafter be
entitled to avoid the contract on the ground that he was an infant when the contract was
made, nor shall he or his spouse be entitled, on the ground of infancy, to avoid any
mortgage or other instrument of encumbrance executed contemporaneously with such
contract for the purpose of securing the same, nor any contractual transaction in
connection with such contract of loan or credit pursuant to which the borrower acquired
title to or an interest in the property encumbered to secure the loan or credit. For the
purpose of any litigation seeking to enforce the contract of loan or credit, or any
encumbrance securing the same; for the purpose of any contract or conveyance executed
under a settlement or refinancing plan approved by the federal authority by which the
original l oan or guaranty was made; and for the purpose of making and executing any
contract or conveyance necessary to the full realization of the rights, privileges and
benefits intended to be conferred by the federal law, pursuant to which the loan or
guaranty wa s made, including contracts necessary for the proper utilization of the
property acquired with the proceeds of such contract of loan or credit; the borrower and
his spouse shall be deemed to be of full age.
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