The disability of minority of any person otherwise eligible for a loan or for guaranty or insurance of a loan pursuant to the Act of the Congress of the United States entitled the Servicemen’s Readjustment Act of 1944, as heretofore or hereafter amended, and of the minor spouse of any eligible veteran in connection with any transaction entered into pursuant to such Act of the Congress of the United States, as heretofore or hereafter amended, shall not affect the binding effect of any obligation incurred by such eligible person or spouse as an incident to any such transaction, including incurring of indebtedness and acquiring, encumbering, selling, releasing, or conveying property or any interest therein, if all or part of any such obligation is guaranteed or insured by the federal government or the Secretary of Veterans Affairs pursuant to the act and amendments thereto or, if the secretary is the creditor, by reason of a loan or a sale pursuant to such act and amendments thereto. This section shall not create or render enforceable any other or greater rights or liabilities than would exist if neither such person nor such spouse were a minor.

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Terms Used In Nebraska Statutes 80-701

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • 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.
  • Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
  • United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801