A legally binding agreement that can be rejected at the option of one of the parties is called a(n):
A) void agreement.
B) revoked contract.
C) voidable contract.
D) optional agreement.

Question

Quizplus · Accepted Answer

A void contract is not capable of being enforced at all, a revoked contract is one that was valid but has been terminated or cancelled, and an optional agreement is not a recognized legal concept. A voidable contract is a valid contract, but one of the parties has the option to reject or enforce it.

A Legally Binding Agreement That Can Be Rejected at the Option