A Contract Is Not Valid If

question 290

Multiple Choice

A contract is not valid if

• A) it is not in writing.
• B) the patient does not have a complete understanding of all parts of it.
• C) there is nothing offered by the patient in return.
• D) b and c.
• E) a, b, and c.

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Definitions:

Secured

Protected by collateral or a guarantee, often referring to loans or obligations.

Unregistered Mortgage

A mortgage that has not been formally recorded with the relevant legal or government authorities, potentially affecting its enforceability.

Default

The failure to fulfill a legal obligation, such as not making a payment on a loan.

Equity of Redemption

The right of a borrower to reclaim property put up as collateral after clearing their debt, especially in relation to mortgage agreements.