Asked by Dionne Duncan on Jun 24, 2024
Verified
An option to cancel the performance of a contract before it begins does not make the promise illusory.
Illusory Promise
A statement that appears to assure a commitment but lacks the essential elements to bind the promisor legally.
Option to Cancel
A clause in a contract that allows one or more parties to terminate the agreement under certain conditions.
- Understand the impact of options to cancel on the enforceability of promises.
Verified Answer
FU
Faisal UllahJun 26, 2024
Final Answer :
False
Explanation :
An option to cancel the performance of a contract before it begins can make the promise illusory because it allows one party the discretion to decide whether or not to perform, potentially lacking consideration and undermining the contract's enforceability.
Learning Objectives
- Understand the impact of options to cancel on the enforceability of promises.