A(n)________ contract consists of an agreement between the parties,is supported by legally sufficient consideration,is between parties with contractual capacity,and accomplishes a lawful object.
A) voidable
B) void
C) valid
D) unenforceable

Question

Quizplus · Accepted Answer

A valid contract must meet all four criteria stated in the definition, meaning it is enforceable by law. A voidable contract may be legally binding, but one party has the option to cancel it due to certain circumstances. A void contract is not legally binding from the beginning. An unenforceable contract is usually valid, but cannot be enforced by law for various reasons.

A(n)________ Contract Consists of an Agreement Between the Parties,is Supported