Which of the following is true of a contract in which one of the parties is insane but not adjudged insane?
A)The contract is voidable by the competent party.
B)The contract is only voidable by the insane person.
C)Only the court-appointed legal guardian of the insane person can modify the contract.
D)The sane person must be placed in status quo if the insane person voids the contract.

Question

Quizplus · Accepted Answer

The contract is only voidable by the insane person because they are considered unable to fully understand the nature and consequences of the contract, thus giving them, but not the other party, the right to void the contract.

Which of the Following Is True of a Contract in Which