Option-To-Cancel Clauses Always Render a Contract Illusory,because One Party Is

question 53

True/False

Option-to-cancel clauses always render a contract illusory,because one party is not bound to the contract.

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Definitions:

Bait And Switch

A deceptive marketing practice where customers are lured with the promise of a product or service at a certain price, only to find it unavailable and replaced with a more expensive option.

Account Kiting

The illegal practice of exploiting banking systems to create artificial funds by writing checks between several accounts.

Probable Cause

A standard of reasonable belief, based on facts, that is required to arrest a person, conduct a search, or seize property in legal proceedings.

Arrest Warrant

A legal document issued by a judge or magistrate which authorizes the police to arrest and detain an individual suspected of a crime.