Share purchase by minor: is it legally valid?
Questioner
In 1992, a 13-year-old bought shares from his sister, and the 13-year-old himself did not sign for it, except for his father. Was this legally valid?Lawyer
No, father should have asked permission from the subdistrict court judge before signing. Incidentally, there is a problem if an appeal is now made to the voidability because there is a limitation period of three years calculated from the date of majority. Under the provisions of Article 3:52 paragraph 1(a) of the Dutch Civil Code, an action for annulment of a legal act in the event of incapacity expires three years after the incapacity has ended or, if the incapacitated person has a legal representative, three years after the act has come to the attention of the legal representative. ECLI:NL:GHSGR:2012:5718 Court of Appeal The Hague 23-10-2012Neem de volgende stap
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