Agreements That Are Contrary to Public Policy Are Binding but Voidable

question 41

True/False

Agreements that are contrary to public policy are binding but voidable.

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Definitions:

Transaction

An agreement or exchange between two or more parties that entails a transfer of goods, services, funds, or any other item of value.

Liable

Legally responsible or obligated to someone else under the law.

Direct Liability

Liability that is attributed to an individual or entity due to their own actions or negligence, not through the actions or negligence of others.

Respondeat Superior

A legal doctrine that holds employers or principals responsible for the actions of their employees or agents, conducted within the scope of their employment or agency.