Illegal Agreements Are

question 4

Multiple Choice

Illegal agreements are:

• A) enforceable if one party acted in good faith.
• B) voidable by one of the parties.
• C) void.
• D) voidable by either party.

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Definitions:

Contract

An agreement between two or more parties that is enforceable by law.

Condition Precedent

A contractual term that requires a specific event or action to occur before a contract becomes binding.

Prescribed Event

A specific occurrence or event that is outlined or defined within a legal or contractual context.

Merchant

An individual or business that sells goods or services in exchange for money.