Indiana Code 21-16-3-1. Student legal capacity to contract
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Sec. 1. A student who enters into a contract for a loan to finance a college education or who borrows money to defray the expense of attending any postsecondary educational institution:
(2) is subject to any obligation that arises from the contract.
(1) has full legal capacity to act in the student’s own behalf in this transaction; and
Terms Used In Indiana Code 21-16-3-1
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
[Pre-2007 Higher Education Recodification Citation: 20-12-21.3-1.]
As added by P.L.2-2007, SEC.257.