A(n) ____ is when one party to the contract has the right to avoid a legal obligation.
A) executed contract
B) formal contract with an escape clause
C) voidable contract
D) real contract
E) parol evidence contract

Question

Quizplus · Accepted Answer

A voidable contract is a contract where one party has the right to avoid the legal obligation, typically due to some form of duress, undue influence, or misrepresentation. This means that the contract is initially valid but can be voided by one of the parties without incurring legal liability. Examples include contracts signed by minors, contracts signed under duress, or contracts based on false information.

A(n) ____ Is When One Party to the Contract Has