A Void Contract Imposes Certain Legal Obligations on the Parties

question 34

True/False

A void contract imposes certain legal obligations on the parties but is not otherwise enforceable.

---

Definitions:

Common Shares

A type of equity security that represents ownership in a corporation, granting voting rights and dividends to shareholders.

Proxy Fight

A battle for control of a company waged by a group of shareholders against the current management, typically requiring the solicitation of proxies from other shareholders.

Board Members

Individuals elected by shareholders to oversee the management and make key decisions for a corporation.

Shareholders

Individuals or institutions that own one or more shares of stock in a public company, thereby having a partial ownership stake in the company.