1. The disability of minority of any person not under the age of eighteen otherwise eligible for guaranty of loan pursuant to the Servicemen’s Readjustment Act of 1944, as amended, and of the spouse of such person, is hereby removed solely for the purposes of acquiring or encumbering, or selling and conveying property and the incurring of indebtedness or obligations incident to either or both, or the refinancing thereof, and litigating or settling controversies arising therefrom, if all or part of the obligations incident to such transaction be guaranteed by the administrator of veterans’ affairs pursuant to such act and an application signed by such minor, or if the property is covered by a loan so guaranteed; provided, nevertheless, that sections 442.090 to 442.120 shall not be construed to impose any other or greater rights or liabilities than would exist if such person and such spouse were each above the age of twenty-one years.

2. Any person who signs any deed of trust, mortgage, contract, agreement, conveyance or other instrument in writing for the purposes required by the provisions of the Servicemen’s Readjustment Act of 1944, as amended, if under the age of twenty-one years but not under the age of eighteen years when such instrument is executed, shall not have the right to repudiate the written obligation so made upon reaching the age of twenty-one years for the reason that he or she was under the age of twenty-one years when signing such instrument.

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3. Any instrument executed prior to the effective date of sections 442.100 to 442.120^* by a person in obtaining guaranty of a loan pursuant to the Servicemen’s Readjustment Act of 1944, as amended, only who is under the age of twenty-one years but not under the age of eighteen years when signing such instrument is hereby validated, ratified and confirmed.