Which of the Following Is True About Void and Voidable

question 62

Multiple Choice

Which of the following is true about void and voidable contracts?

• A)A void contract is not a contract at all;a voidable contract can be terminated by one party.
• B)Both parties must agree to terminate a void or a voidable contract because otherwise there would be no privity.
• C)Either party can terminate the contract at any time.
• D)Both contracts are illegal.
• E)Both contracts must contain an illegal object.

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Definitions:

Elastic Supply

A situation where the quantity supplied of a good responds significantly to changes in its price.

Subsidy Benefit

Subsidy Benefit refers to the financial advantage received by individuals or businesses from government subsidies, intended to promote certain activities or lower costs.

Elastic Supply

The situation where the quantiry supplied of a good is sensitive to changes in its price.

Subsidy Benefit

Financial assistance granted by the government or a public body to support businesses, industries, or individuals, leading to lower costs or more favorable conditions.