Which of the Following Statements Is the Best Description of a 'Void

question 30

Multiple Choice

Which of the following statements is the best description of a 'void' contract?

• A)The contract remains valid and binding unless and until it is repudiated by the injured party.
• B)There are no legal rights or obligations from the outset,and the contract cannot be enforced by either party.
• C)While the contract is valid on its face,no legal action can be brought on it.
• D)The purpose of the contract contravenes a statute or the common law.

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Definitions:

Leakages

In economics, it refers to the withdrawal of potential spending from the economy's circular flow, primarily through savings, taxes, and imports.

Household Production

The creation of goods and services by individuals or families within a home environment, not for formal market exchange.

Gross Domestic Product (GDP)

The complete market or financial worth of every finished good and service made within a nation's frontiers in a certain timeframe.

Consumer Price Index (CPI)

A metric that calculates the mean variation over time in the costs incurred by urban buyers for a selection of consumer products and services.