A Voidable Contract

question 3

Multiple Choice

A voidable contract

• A) is enforceable against all parties unless a party has a right to back out of it.
• B) lacks one of the essential elements of a contract.
• C) is required to be in writing.
• D) is limited to simple transactions.

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Definitions:

Plot Land

A marked piece of land designated for a specific use, such as construction, gardening, or other forms of development.

Mailbox Rule

A legal principle in contract law that states an offer is considered accepted at the moment the acceptance is mailed, rather than when the acceptance is received by the offeror.

Receipt Stipulation

An agreement or acknowledgment documenting the receipt of something, often used in legal contexts to prove the acceptance of documents or payments.

Mailbox Rule

A legal principle stating that an offer is considered accepted at the time the acceptance is sent through the mail, not when it is received by the offeror.