Asked by Garrett Wynne on May 02, 2024
Verified
All lawn maintenance businesses must pay the state a $200 annual license fee with no other legal regulations.ABC Yards,Inc.fails to pay the license fee.Which of the following is true in case ABC Yards has failed to acquire a license because of the failure to pay the $200?
A) The lack of a license will not necessarily make a contract void.
B) The lack of a license makes the contracts void under contract laws.
C) All contracts of ABC are voidable,due to their failure to obey the regulation.
D) Only executory contracts by ABC will be voidable.
License Fee
A payment required for the permission to use someone else's property or intellectual property rights, such as software, music, or brand names, under specified conditions.
Legal Regulations
Rules or directives made and maintained by authority, governing behavior within a specific system, often within the context of industries, professions, or societal laws.
- Understand the role and requirement of licenses in professional and business practices.
Verified Answer
ZK
Zybrea KnightMay 03, 2024
Final Answer :
A
Explanation :
The failure to pay the annual license fee does not make contracts void under contract laws. While it is a legal regulation, it does not necessarily have an impact on the validity of the contracts entered into by ABC Yards, Inc.
Learning Objectives
- Understand the role and requirement of licenses in professional and business practices.
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