                                 CODE OF VIRGINIA

WHEN PLEA OF INFANCY NOT ALLOWED; LIABILITY OF INFANTS FOR DEBTS AS TRADERS;
LIABILITY OF INFANTS ON LOANS TO DEFRAY EXPENSES OF EDUCATION (§ 8.01-278)

A. If any minor now transacting business or who may hereafter transact business
as a trader fails to disclose (i) by a sign in letters easy to be read, kept
conspicuously posted at the place wherein such business is transacted and (ii)
also by a notice published for two weeks in a newspaper meeting the requirements
of &#xA7; 8.01-324, the fact that he is a minor, all property, stock, and choses
in action acquired or used in such business shall as to the creditors of any
such person be liable for the debts of such person, and no plea of infancy shall
be allowed.

B. If any minor shall procure a loan upon the representation in writing that the
proceeds thereof are to be expended by such minor to defray any or all expenses
incurred by reason of attendance at an institution of higher education, which
has been approved by any regional accrediting association which is approved by
the United States Office of Education, or by reason of attendance at any school
eligible for the guarantee of the State Education Assistance Authority, such
minor shall be liable for the repayment thereof as though he were an adult, and
no plea of infancy shall be allowed.

HISTORY: Code 1950, §§ 8-135, 8-135.1; 1960, c. 78; 1970, c. 7; 1977, c. 617.