A Contract Is Void If One of the Parties Was

question 26

True/False

A contract is void if one of the parties was intoxicated at the time of its formation.

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Definitions:

Inventory

The total quantity of goods and materials that a business holds for the purpose of resale or production.

Construction Lien

A legal claim against a property by a contractor or subcontractor who has not been fully paid for work completed, securing payment for services rendered in improving the property.

Building Contract

A legal document outlining the terms, conditions, and specifications under which construction work is to be performed.

Lumber Supply Company

A business specializing in the distribution and sale of timber and wood products.