Supreme Court Act 1986 (Vic)
Section 49
The Supreme Court Act (s 49) makes certain contracts with minors void:
- Contracts for the repayment of money lent or to be lent
- Contracts for payment for goods supplied or to be supplied (other than necessities)
- Accounts stated
In addition, protection is given to minors who purport to ratify after becoming an adult. In particular, section 50 effectively provides that a minor cannot ratify a contract made during minority (an entirely new contract would need to be entered into). Section 51 further provides that a minor who contracts alone cannot (in most cases) effectively agree (after obtaining full age) to repay all or part of that loan – any such agreement is void.
Extract forthcoming
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