A Voidable Contract Is a Valid Contract That Can Be

question 6

True/False

A voidable contract is a valid contract that can be avoided by one or both of the parties.

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Definitions:

Voidable

A term used to describe a legal agreement or transaction that can be validated or invalidated at the discretion of one of the parties involved.

Overcharged

A situation where an individual is billed more than the agreed price or fair value for goods or services.

Reasonable Value

The fair or market value of a service or item, taking into consideration its quality, utility, and the prevailing conditions.

Mentally Incompetent

A legal status indicating a person's inability to make decisions or handle affairs because of mental health issues or intellectual disabilities.