New York  |  Banking Law

Legal Question

Asked on: 6/10/13, 8:40 am

What is the law position in the State of New York regarding a minor opening a bank account?

1 Answer

Answered on: 6/10/13, 8:50 am by Locksley Wade

A bank account is a contractual obligation. Contractual obligations are not enforceable against minors. Therefore, banks are under no obligation to open a bank account with a minor.

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