A Voidable Contract Is a Valid Contract That Can Be

question 67

True/False

A voidable contract is a valid contract that can be avoided at the option of at least one of the parties to it.

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Definitions:

Tax System

The organized structure and set of rules under which taxes are collected by a government from individuals and businesses.

Incentivize

Incentivize refers to the practice of offering rewards or incentives to encourage certain behaviors or actions.

Balance Sheet

A report detailing a corporation's assets, liabilities, and equity held by shareholders at a particular moment.

Equity

Ownership interest in a company, represented by shares, which gives shareholders a claim on part of the company's assets and earnings.