{"id":35270,"date":"2024-04-15T09:42:53","date_gmt":"2024-04-15T09:42:53","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=35270"},"modified":"2024-04-15T09:42:53","modified_gmt":"2024-04-15T09:42:53","slug":"which-of-the-following-discussions-about-different-contract-s-fall-s-that-fall-under-the-category-of-enforce-ability-is-wrong","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-discussions-about-different-contract-s-fall-s-that-fall-under-the-category-of-enforce-ability-is-wrong\/","title":{"rendered":"Which of the following discussions about different contract\/s fall\/s that fall under the category of &#8216;enforce-ability&#8217; is wrong?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Valid contracts &#8211; contains all essential elements&#8221; option2=&#8221;Void contracts &#8211; not legally enforceable since its beginning&#8221; option3=&#8221;Voidable contracts &#8211; valid agreement&#8221; option4=&#8221;All of the above contracts offer correct explanation&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is: C. Voidable contracts &#8211; valid agreement.<\/p>\n<p>A valid contract is an agreement that meets all the legal requirements for a contract to be enforceable. A void contract is an agreement that is not legally enforceable because it lacks one or more of the essential elements of a contract. A voidable contract is a valid agreement that one or more of the parties has the right to cancel.<\/p>\n<p>Here is a brief explanation of each option:<\/p>\n<ul>\n<li>A valid contract is an agreement that meets all the legal requirements for a contract to be enforceable. These requirements include:\n<ul>\n<li>Offer and acceptance: There must be an offer from one party and an acceptance of that offer by the other party.<\/li>\n<li>Consideration: Each party must give something of value to the other party.<\/li>\n<li>Capacity: The parties must have the legal capacity to enter into a contract.<\/li>\n<li>Legal purpose: The contract must have a legal purpose.<\/li>\n<\/ul>\n<\/li>\n<li>A void contract is an agreement that is not legally enforceable because it lacks one or more of the essential elements of a contract. For example, a contract that is made by a minor is void because minors do not have the legal capacity to enter into contracts.<\/li>\n<li>A voidable contract is a valid agreement that one or more of the parties has the right to cancel. For example, a contract that is made under duress is voidable because the party who was forced to enter into the contract did not have the free will to do so.<\/li>\n<\/ul>\n<p>In conclusion, the only option that is wrong is C. Voidable contracts &#8211; valid agreement. A voidable contract is a valid agreement, but one or more of the parties has the right to cancel it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Valid contracts &#8211; contains all essential elements&#8221; option2=&#8221;Void contracts &#8211; not legally enforceable since its beginning&#8221; option3=&#8221;Voidable contracts &#8211; valid agreement&#8221; option4=&#8221;All of the above contracts offer correct explanation&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[704],"tags":[],"class_list":["post-35270","post","type-post","status-publish","format-standard","hentry","category-legal-aspects-of-business","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following discussions about different contract\/s fall\/s that fall under the category of &#039;enforce-ability&#039; 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