N.Y. General Obligations Law § 3-103: Contracts pursuant to the "Servicemen's Readjustment Act of 1944" as amended; when they may not be disaffirmed

§ 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.