An Agreement in Which Parties Intend to Form a Valid

question 22

Multiple Choice

An agreement in which parties intend to form a valid bargain,but a court declares that some rule of law prevents enforcing it.is:

• A)void
• B)voidable
• C)Unenforceable
• D)none of the above.

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Definitions:

Owner's Equity

The residual interest in the assets of a company after deducting liabilities, representing the owners' share of the company’s assets.

Owner's Investments

Funds or assets contributed by the owner(s) to the business to increase its capital.

Expenses

Costs incurred by a business in the process of earning revenue, such as rent, salaries, and utility bills.

Withdrawals

Amounts of money taken out from a bank account, investment fund, or retirement plan, often referring to the owner's use of funds for personal use.