If a Contract Contains an Illegal Part,courts Will Sever the Illegal

question 14

True/False

If a contract contains an illegal part,courts will sever the illegal part and enforce only the legal part.

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Definitions:

Mutually Acceptable Terms

Conditions or agreements in negotiations that are agreeable to all parties involved, ensuring each party's needs or interests are adequately addressed.

Final Offer Arbitration

A dispute resolution process where each party submits their final offer, and an arbitrator chooses one of those offers as the legally binding settlement, without alterations.

Conventional Arbitration

A dispute resolution process where a neutral third party makes a decision to resolve a conflict, often binding, after hearing arguments and evidence from both sides.

Contract Terms

The specific agreements and conditions outlined in a contract that determine the obligations, rights, and expectations of the parties involved.