Which of the following is true about void and voidable contracts?
A)A void contract is not a contract at all;a voidable contract can be terminated by one party.
B)Both parties must agree to terminate a void or a voidable contract because otherwise there would be no privity.
C)Either party can terminate the contract at any time.
D)Both contracts are illegal.
E)Both contracts must contain an illegal object.

Question

Quizplus · Accepted Answer

A)A void contract is in effect not a contract at all.Either its object is illegal or it has
some defect so serious that it is not a contract.A contract is voidable if one or both parties has the ability to either withdraw from the contract or enforce it.
B)A void contract is in effect not a contract at all.Either its object is illegal or it has some defect so serious that it is not a contract.A contract is voidable if one or both parties has the ability to either withdraw from the contract or enforce it.
C)A void contract is in effect not a contract at all.Either its object is illegal or it has some defect so serious that it is not a contract.A contract is voidable if one or both parties has the ability to either withdraw from the contract or enforce it.
D)A void contract is in effect not a contract at all.Either its object is illegal or it has some defect so serious that it is not a contract.A contract is voidable if one or both parties has the ability to either withdraw from the contract or enforce it.
E)A void contract is in effect not a contract at all.Either its object is illegal or it has some defect so serious that it is not a contract.A contract is voidable if one or both parties has the ability to either withdraw from the contract or enforce it.

Which of the Following Is True About Void and Voidable