Which of the Following Is True of the Remedy of Avoidance

question 23

Multiple Choice

Which of the following is true of the remedy of avoidance used by an injured party of a contract?

• A) It can be used without notification to the injuring party.
• B) It revokes all the provisions governing the rights and duties of the parties.
• C) It cancels out any provisions in the contract concerning the settlement of disputes, once used.
• D) It can be used in case a fundamental breach of the contract has been observed.

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Definitions:

Rightfully Dissolved

A term applied to the dissolution of a partnership in a way that does not violate the partnership agreement.

Partnership Agreement

A contract among partners in a business that outlines the terms and conditions of the relationship, including the distribution of profits and losses.

Intellectual Property

Legal rights that result from intellectual activity in the industrial, scientific, literary, and artistic fields, safeguarding creators' rights to their inventions, writings, music, and brands.

Limited Partners

Investors in a limited partnership who provide capital but have limited liability and are not involved in day-to-day management.