Which of the Following Is True of Contracts

question 100

Multiple Choice

Which of the following is true of contracts?

• A) A void contract is one where a party has the option to avoid his or her contractual liability.
• B) A voidable contract is one in which a party has the option to nullify his or her obligation under the contract.
• C) A voidable contract is one that has no legal effect because one of the essential elements is missing.
• D) An executory contract is considered unenforceable.

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Definitions:

Critical Value

A threshold in statistical testing that delineates the boundary for rejecting the null hypothesis.

Left-tailed Area

The area under the curve of a distribution to the left of a specified value, often used in hypothesis testing to determine the likelihood of observing a result at least as extreme as the one observed.

Degrees Of Freedom

The number of independent values or quantities that can vary in the calculation of a statistic, crucial for assessing the relevance of test results.

Water Breaks

Brief pauses during activities intended for the intake of water to stay hydrated and maintain physical or mental performance.