What is the difference between a void and a voidable contract?
A) ?A voidable contract violates a statute whereas a void contract is enforceable
B) ?A void contract cannot be enforced by either party and under voidable contracts, one party has a choice about enforcement.
C) ?A void contract applies to minors' contracts and voidable applies to all others' contracts.
D) A void contract is one that should have been in writing, but is not.
B
You might also like to view...
Managers at Lucky Peach magazine are in the process of cross training entry-level employees to be able to take phone orders or answer customer questions, and to process orders in overflow situations. The company is changing its
A. people. B. skills. C. technology. D. attitudes. E. structure.
On August 31, Farrell Corporation signed a one-year contract to provide services to Harris Company for $30,000 . Harris will pay for the services on September 1 . Using the accrual basis of accounting, when should Farrell Corporation recognize revenue?
a. September 1 of the current year when the cash is received from Harris b. On August 31 of the next year when all services have been provided c. Throughout the year as the revenue is earned d. At December 31 of the current year, and August 31 of the next year
In the English language, the word blue can refer to a color or a state of feeling melancholy. The word blue can be characterized as having which trait?
a. polysemy b. coordination c. symbolic meaning d. social agreement
A contingent liability is recorded only if a loss is at least reasonably possible and the amount is reasonably estimable.
Answer the following statement true (T) or false (F)