Voidable contract - Study guides, Class notes & Summaries

A legal defense renders a contract unenforceable, even though it has the necessary elements of a valid contract. T/F correct answers True Ally, a minor, purchases a car from a used-car dealer. The law allows minors the right to cancel a contract until the time the minor turns 18. The contract between Ally and the dealer is a voidable contract. a void contract. a valid contract. an unenforceable contract. correct answers a voidable contract. A handyman goes to the wrong house by...

Real Estate U Texas Promulgated Contract Forms(4) Exam 2024 Questions with 100% Correct Answers | Verified | Latest Update To have no force or effect is referred to as a ........................ contract? Void Valid Enforceable Executed ANS Void 2. That which is capable of being adjusted void, but is not unless action is taken to make it so, is referred to as a/an ...................................... contract? Unenforceable Voidable Executed Expired ANS Voidable

assignment correct answersThe transfer of rights and duties, but not liabilities, from one contract to another contract or from one person to another person is an: liquidated damages. Earnest money is not consideration; it is the seller's remedy in a liquidated damages contract if the buyer defaults. correct answersWhen the buyer is in default and the seller keeps the earnest money, the contract MOST likely provided for: executory. The phase from offer to a closed and executed/closed cont...

An insurance policy which combines personal liability insurance and hazard insurance coverage for a dwelling and its contents is called: Homeowner's insurance Buyer's insurance Errors and omissions insurance All of the above - Answer-Homeowner's insurance Homeowner's insurance ensures comprehensive protection for homeowners. What is the status of a contract when all terms have been fulfilled and the transaction has been closed? Fully executed Terminated Voidable Unenforceab...

To have no force or effect is referred to as a .......... contract? Void Valid Enforceable Executed - Void That which is capable of being adjusted void, but is not unless action is taken to make it so, is referred to as a/an ............ contract? Unenforceable Voidable Executed Expired - Voidable In order to be considered a competent party, an individual must be of the age of the...? Majority Minority Other party None of the above - Majority A contract in which one of the partie...

Utah Real Estate General Sales Questions and Answers Already Passed Bob the buyer has made an offer on Sam the seller's property. That offer has been accepted. Bob is working on finalizing his loan for the purchase as part of the contingencies of the agreement. What kind of agreement exists between Bob and Sam? (a) Executed (b) Sale pending (c) Executory (d) Voidable (c) Executory J carried back a 2nd mortgage when his home was sold. Now he needs some ready cash and is going t...

To have no force or effect is referred to as a .......... contract? Void Valid Enforceable Executed - Void That which is capable of being adjusted void, but is not unless action is taken to make it so, is referred to as a/an ............ contract? Unenforceable Voidable Executed Expired - Voidable In order to be considered a competent party, an individual must be of the age of the...? Majority Minority Other party None of the above - Majority

Promulgated Forms – Champions Exam Study Guide with Complete Solutions 100% Verified 2024/2025 Mutual Consent - Correct Answer "meeting of the minds" unilateral contract - Correct Answer A contract in which only one party is obligated to perform consideration - Correct Answer Something given in exchange for a promise option - Correct Answer an agreement between a buyer and seller giving the buyer the right to purchase a property at a preset price for a given period of time ...

ICAEW LawWhat does void mean and when are contracts void? That there is no valid contract and goods should be returned; - Illegality (must not be illegal or against public policy) What does voidable mean and when are contracts voidable? The contract can be ignored by the 'injured' party; - Lack of capacity (due to age or sound of mind) - Lack of free will (duress or undue influence) - Misrepresentation (incorrect facts that made the contract happen) Which agreements must be evi...

RFBT Contract of Sales Test Bank/268 Questions and Answers 100% Correct RFBT Contract of Sales Test Bank/268 Questions and Answers 100% Correct COVERAGE: Contract of sales Direction: Read and select the best answer for the following questions. 1. It is a contract whereby one of the contracting parties, known as the seller or vendor, obligates himself to transfer the ownership of and to deliver a determinate thing, and the other party, known as the buyer or vendee, obligates himself to pa...