Stipulate whether the following contract is valid, void, or voidable. Motivate your answer by naming and defining relevant factor affecting consensus.

Mike who is 53-years old is dating Karen who is 21-years old. Karen invited Mike out on a night to Town and convinced to him transfer R 10 million into her bank account because she loves him. Mike believed her and did an immediate electronic funds transfer of R 10 Million into her account.

Answer rating: 100% (QA)

The contract is voidable because One party is in a position to dominate ... View the full answer