Question: What is the difference between a void contract and a voidable contract? A. There is no difference; void and voidable are two words for the

What is the difference between a void contract and a voidable contract?

A. There is no difference; void and voidable are two words for the same type of contract.

B. A void contract is unenforceable; a voidable contract can be either affirmed or disaffirmed at the option of one or more of the contracting parties.

C. It is illegal to enter into a voidable contract; void contracts are legally binding under certain circumstances.

D. A voidable contract is unenforceable; a void contract can be either affirmed or disaffirmed at the option of one or more of the contracting parties.

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 General Management Questions!

30.a. What exception is there in the rule that an agreement is illegal if it tends to compensate a person for the consequences of his own wrongdoing? A) The main exception to this rule is at the...

17.a. What is the difference between a void contract and a voidable contract? A) A void contract is an illegal contract that exists while a voidable contract has never existed but the parties can ask...

What is the primary difference between a void contract and a voidable contract? Group of answer choices A void contract has an illegal purpose, while a voidable contract is simply a mistake A void...

What are the different sources of law in the United States? What is the difference between negligence and an intentional tort? What is a contract and what are the elements of a valid contract? What...

Discuss the difference between a void contract and a voidable contract; and in what circumstances will make a contract become void contract and voidable contract with reference to relevant statutes...

Hassan is planning a high profile charity event; the highlight will be the performance of a ballet, which requires a special stage to be installed. Hassan contracts with "Better Staging" to install...

Question 4 What is the difference between a void contract and a voidable contract? Question 5 What is the difference between possession and title of personal property? Question 6 What is the Statute...

Reference Book: Business Law and the Legal Environment.pdf(saylor.org)/ https://www.saylor.org/site/textbooks/Business%20Law%20and%20the%20Legal%20Environment.pdf Chapter 8 section 8.3 exercise on...

What is the difference between a void contract and a voidable contract? Give an example of each type of contract as part of your answer.

Using Warshall's algorithm, obtain the transitive closure of the matrix given below

FedPrimeRote.com reported the median price of a home sold in the United States In November 2017 was $199,600. Pat Radlgan wants to purchase a new home for $317,000. Pat puts 20% down and will finance...

With respect to deferred annuities, the premiums paid by those who pass away earlier than expected contribute to an overall pool of assets that can be used to provide a higher payment to remaining...

Case Greenbuilders Pte Lid ("GPL") is a local construction company which specialises in providing bespoke Design and Build construction services for private residential homes that are designed to be...