Under what circumstances can a real estate contract be considered voidable rather than void?
Correct Answer
B) When one party was a minor or lacked mental capacity at signing
A voidable contract is one that exists but can be set aside at the option of the protected party, for example a minor, a person who lacked mental capacity, or a party induced by duress or misrepresentation. A void contract, such as one for an illegal purpose or one missing an essential element, has no legal effect from the start.
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