Question: Business law Q.1. Explain the terms, void and voidable consideration. Discuss the rights and obligations of the parties to a void contract and voidable contract

Business law Q.1. Explain the terms, void and voidable consideration. Discuss

Business law

Q.1. Explain the terms, void and voidable consideration. Discuss the rights and obligations of the parties to a void contract and voidable contract after its rescission

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Law Questions!

Indicate whether each of the following statements true or false: 1.Police are community guardians of the peace. 2.The country court of Victoria is bound by a decision of the NSW Supreme Court. 3.The...

QUESTION ONE Lindy arrived at her favourite Melbourne market by car. It was hard to get parking but, as she would not be long, she decided to park the car in a parking spot that had a visible sign...

How is a Contract Organized? Contracts vary in length, formality of language, etc. The main components of a contract are as follows: Preamble, Recital, Words of Agreement Definitions Action Section...

Introduction: Students have learned about the first two elements of a legally binding contract: Agreement and Consideration. Capacity is the third element of a legally binding contract. A person who...

Please answer those questions The doctrine of precedent: a. Requires a judge to decide an issue in a case based on the evidence b. Requires a judge to decide an issue in a case based on statutory law...

Discussion: Contractual Capacity To enter into a contract, parties must have contractual capacity. The parties must have the mental ability to understand their rights and obligations under a contract...

Chapter 10 from Business Law and the Legal Environment was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as requested...

Reflection Paper for this What have you learned in TITLE II. - CONTRACTS ? ESSENTIAL REQUISITES OF CONTRACTS ? Consent ? Capacity to Give Consent & Vices of ? Consent ? Object of Contracts ? Cause of...

1. Daniel Dimwit sees an advertisement for a toaster oven at Target for the price of $49.00. When he gets to Target they are all sold out. Sears has the same toaster oven for $60.00. Can Mr. Dimwit...

CAN YOU PLEASE PARAPHRASE THIS!! OWN WORDS. PER BULLET. DON'T USE QUILLBOT. THANKYOUUU. In chapter 4, I have learned that the cause of extinguishment of obligations such as payment or performance,...

As manager of the production department. Raul is concerned about increasing direct materials costs. Last year's profit of $25,600 resulted from sales of 5.400 units at a selling price of $130. Total...

A public agency is contemplating construction of a facility with the following operating cash flow (in thousands of constant dollars) at year ends. Year 3 4 Cash Flow -$400 -$200 $280 $300 $320 $340...

1 For each regular polygon, give the correct name and number of sides. The first one is done for you. pentagon, 5 sides

Question: Indigo INSURE DETAIL: You work for an insurer , Indigo Insure, and have been tasked with developing an innovative insurance that will cover building defects on new houses and commercial...

3. What values would you say are your core values?

12. Think of a situation where you felt particularly powerless. It must be a real event that you remember relatively well. Try to think back. What was it you imagined just before you felt powerless...

13. Try to imagine how you would feel if you had tackled the problem, the con-flict, the challenge, etc., that made you powerless in task 12, for example upstairs, confident, confident, calm,...