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Are we responsible for transactions made by our minor son without our consent?

Are we responsible for transactions made by our minor son without our consent?

Q: Can you keep money if the bank makes a mistake?

If a bank mistakenly deposits money into your account, you are generally required to return it. Keeping funds that do not belong to you can be considered theft or conversion under the law. It's best to notify the bank immediately to resolve the issue.

Q: What if money unexpectedly shows up in my account?

If you notice unexpected money in your account, you should contact your bank right away. The bank will investigate the source of the funds. If the money was deposited in error, you may need to return it. Keeping the funds without notifying the bank could lead to legal issues.

Q: Is a student bank account a checking account?

Yes, a student bank account is typically a type of checking account. It allows students to deposit and withdraw money, write checks, and use debit cards. These accounts are designed to meet the needs of students, often with lower fees and more flexible terms.

Q: Why would someone fraudulently open a checking account in my name?

Fraudsters may open a checking account in your name to access funds or conduct illegal activities without your knowledge. This can lead to financial loss and damage to your credit. It's important to monitor your financial accounts and report any suspicious activity to your bank immediately.

Full question:

My son, wife and I are on a student checking account. The account was opened in California but the offense happened in North Carolina. My son deposited a check and the bank put a 1 day hold on the check. The next day he took the money out and sent it Western Union in a scam to become model. The check came back insufficient funds. This was all done without my wife nor my knowledge. My son did all this and he is a minor. My wife and I do not use this account, it was for my son for while he was at college and we needed to put money in his account. Do we have to pay for this transactions.

Category: Minors
Date: 04/07/2025
State: North Carolina

Answer:

In most states, individuals reach the age of majority at eighteen. Generally, minors lack the capacity to enter into binding contracts, except for necessities. Until they reach the age of majority, minors can disaffirm contracts in many cases, but only the minor has the right to do so.

In North Carolina, there are specific statutes that limit a minor's ability to disaffirm certain contracts related to talent and entertainment. For instance, under North Carolina General Statutes § 48A-18, a minor cannot disaffirm a contract with a talent agency for artistic services unless the contract has been approved by the superior court. This means that if your son entered into a contract related to becoming a model without court approval, he may have the right to disaffirm it.

However, this does not directly address the issue of whether you and your wife are responsible for the transactions made by your son. Since he is a minor, you may not be held liable for the unauthorized withdrawal and subsequent actions he took with the funds. It's advisable to consult with a legal professional to understand your specific situation and any potential liabilities you may have.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What type of bank account is a student account?

A student bank account is typically a checking account designed for students. It often has lower fees and fewer requirements compared to regular checking accounts. These accounts may offer benefits such as no minimum balance requirements and free access to ATMs. They are intended to help students manage their finances while in school.