Cindy Nanson Had a Contract with Bob Greenly for Bob

question 34

Multiple Choice

Cindy Nanson had a contract with Bob Greenly for Bob to repay Cindy $2000 plus interest by July 1986. It is now August 1990 and Cindy has not received any payment. Cindy wishes to file suit to collect the $2000. Bob reminds her that the statute of limitations for contract suits is four years. Cindy's contract with Bob is:

• A) unenforceable.
• B) void.
• C) voidable.
• D) all of the above

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Definitions:

Enforcing Contracts

The legal process of ensuring that parties to a contract fulfill their obligations as specified in the contract.

World Bank

An international financial institution that provides loans and grants to the governments of poor countries for the purpose of pursuing capital projects.

Accord and Satisfaction

A legal settlement where an agreement is made to satisfy a debt or claim, followed by the actual performance of this agreement, which discharges the original claim.

Accord and Satisfaction

A legal agreement where a dispute is settled by the parties involved, wherein one agrees to accept less than what's owed and the other agrees to forgive the remainder.