Asked by Fatima Santos on Jul 15, 2024
Verified
What is the result of a contract being voidable?
Voidable Contract
A voidable contract is a legal agreement that may be annulled or declared invalid by one of the parties due to certain defects, while remaining valid until such action is taken.
Result
The outcome or consequence of an action, process, or situation, often measured to determine success or failure.
Contract
An accord among several parties that is legally obligatory and subject to legal enforcement.
- Elucidate the notion of voidable contracts and delineate the circumstances that render a contract voidable.
Verified Answer
DG
Dinah GaspardJul 18, 2024
Final Answer :
When a contact is voidable,it may be rescinded or canceled.The cancellation of a contract permits the person who canceled it to require the return of everything she gave the other party.At the same time,the person who rescinds the contract must herself return whatever she has received from the other party.
Learning Objectives
- Elucidate the notion of voidable contracts and delineate the circumstances that render a contract voidable.