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MINORS (PROPERTY AND CONTRACTS) ACT 1970 - SECT 20 Disposition for consideration

MINORS (PROPERTY AND CONTRACTS) ACT 1970 - SECT 20

Disposition for consideration

20 Disposition for consideration

(1) Where:
(a) a minor makes a disposition of property for a consideration received or to be received by the minor,
(b) the consideration is not manifestly inadequate at the time of the disposition, and
(c) the minor receives the whole or any part of the consideration:
the disposition is presumptively binding on the minor.
(2) Where:
(a) a disposition of property is made to a minor for a consideration given or to be given by the minor, and
(b) the consideration is not manifestly excessive at the time of the disposition:
the disposition is presumptively binding on the minor.
(3) Save to the extent to which, under Part 3 of the Sale of Goods Act 1923 or otherwise, a promise may operate as a disposition of property, subsection (2) does not make presumptively binding on a minor a promise by the minor which is the whole or part of the consideration for a disposition of property to the minor.
(4) Where the burden of, or arising under, a covenant or other promise runs with property so as to impose an obligation or restriction on a person to whom a disposition of the property is made in any manner or circumstances, subsection (2) does not make presumptively binding on a minor a disposition of that property to the minor in that manner or those circumstances.