ContractsTypes_of_contractsEASY
What is the key difference between a void contract and a voidable contract?
Correct Answer
A) A void contract has no legal effect from the beginning; a voidable contract is binding until a party chooses to rescind
A void contract has no legal effect and cannot be enforced. A voidable contract is binding unless a party with the power to avoid it chooses to rescind.
Answer Options
A
A void contract has no legal effect from the beginning; a voidable contract is binding until a party chooses to rescindB
A void contract can be enforced by a court; a voidable contract cannotC
A void contract is always written; a voidable contract is always oralD
There is no difference; the terms are interchangeableWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Background Knowledge for Contracts
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Real World Application in Contracts
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Related Topics & Key Terms
Key Terms:
types_of_contractscontractsvoid_vs_voidabledistinction
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