Question

a voidable contract is one in which a. the statute of frauds is an issue b. one in which at least one party has the option to avoid their contractual obligation c. all the essential elements necessary to establish a contract have been met d. has no legal effect

Answer 1

A voidable contract is one in which one in which at least one party has the option to avoid their contractual obligation.

Option B is correct.

What Is a Voidable Contract?

A voidable contract is a formal agreement between two parties that may be delivered unenforceable for any work of legal reasons, which may involve Failure by one or both parties to expose a physical fact. A mistake, misrepresentation, or fraud. overdue influence or constraint.

What are the consequences of a voidable contract?

Parties to a void contract can't sue the distinct party for not completing the contract and must restore any benefit they entered to the original party. With voidable contracts, the affair negatively affected by the effect can sue for penalty.

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