Legal Question in Banking Law in New York
What is the law position in the State of New York regarding a minor opening a bank account?
Asked on 6/10/13, 8:40 am
1 Answer from Attorneys
Locksley Wade
Law Office of Locksley O. 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.
Answered on 6/10/13, 8:50 am
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