Champions Law of Contracts Practice Exam

Question: 1 / 400

What is the implication of a contract being "voidable"?

The contract can be enforced by both parties

Only one party has the option to void it

A contract being "voidable" implies that it is initially valid and enforceable, but one party has the legal right to cancel or rescind the contract due to specific circumstances, such as misrepresentation, undue influence, or the party being a minor. This unilateral right means that only the affected party can choose to void the contract; the other party remains bound unless the contract is formally voided.

This characteristic of voidable contracts empowers one party with the option to affirm or reject the contract based on their situation, which is crucial in understanding the dynamics of enforceability and obligations in contract law. It distinguishes voidable contracts from void contracts, which are inherently invalid from the outset, with no enforceability by either party. Therefore, the correct answer reflects the unilateral nature of the right to void the agreement.

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The contract is valid and enforceable without further action

Both parties must mutually agree to void it

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