Legal age for signing Banking Contract

[darftblerk]

Anyone know whether a person can be pursued for a debt tied to a bank account when the original contract was signed at a time that the person was 17 years old?

Surely the person signing the contract must be of legal age i.e. 18 years old?

[Hobbie]

18 years of age to make a contract enforcable.

[darftblerk]

OK, so if I opened my bank account with Barclays when I was 16 or 17, does Barclays now have a case to pursue me for charges?

Or...do I have a case to pursue Barlcays for unfair charges? My account was opened on Feb 2nd 1996, when I was 17 years old.

[Hobbie]

You can not sign a contract under the age of 18 years of age and have the contract enforcable, this would also be the same if it was the other way round, and you tried to hold someone else to contract that you signed under the legal age.

You'd have a case regardless of age to reclaim ANY unlawful charges, although the banks may tell you it is awaiting to results of the 'test case'

[rory32]

Anyone know whether a person can be pursued for a debt tied to a bank account when the original contract was signed at a time that the person was 17 years old?

There is no legal age limit at which you can open a bank account but a bank manager can decide whether to allow a child or young person to open an account. There are restrictions on opening certain kinds of account, for example, a young person are not normally legally responsible for their debts so they are unlikely to be granted an overdraft.

Were you given credit when you were under 18?

You can not sign a contract under the age of 18 years of age and have the contract enforcable,

That's not entirely true. You would need to apply to set aside the contract and only have a limited period of time for doing this. Also the opening of a bank account does not necessarily supply you with credit.

The Minor's Contract Act 1987 sets out the rules relating to the contractual capacity of minors (in England/Wales). Basically two kinds of contract negotiated by a minor are valid
1) contracts for the supply of goods and services which are necessaries i.e. Nash v Inman 1908 and
2) a service or educational contract which is for the benefit of the minor.