The Court May Hold That a Contract Is Void, Voidable

question 33

Multiple Choice

The court may hold that a contract is void, voidable, unenforceable, or illegal. Which of the following is true with regard to these terms and the court's use of them?

• A) "Void" is the same as "unenforceable."
• B) If a contract is held to be void, it is a contract, but for some reason, one party can end it.
• C) If a contract is held to be illegal, the plaintiff will get some help, because the court will try to put the parties back to their original position.
• D) If a contract is unenforceable, it means it doesn't exist.
• E) If a contract is held to be void, it never was a contract.

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Definitions:

Market Price

The current price at which a good or service can be bought or sold in a marketplace.

User Cost

The cost of using a good or service, which includes the opportunity cost of choosing one alternative over others.

Present Value

The current worth of a future sum of money or stream of cash flows, given a specified rate of return.

Delayed Extraction

The postponement of resource or raw material extraction to achieve more efficient processing or higher market values at a later time.