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An agreement which is enforceable by law at the option of one or more of the parties thereon but not at the option of the other or others is a
- a)Valid Contract.
- b)Void Contract.
- c)Voidable Contract.
- d)Illegal Contract.
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
An agreement which is enforceable by law at the option of one or more ...
(i) An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at the option of the other or others, is a voidable contract;
(j) A contract which ceases to be enforceable by law becomes void when it ceases to be enforceable
Most Upvoted Answer
An agreement which is enforceable by law at the option of one or more ...
**Explanation:**
A contract is a legally binding agreement between two or more parties. It is important to understand the different types of contracts and their enforceability. In this case, the correct answer is option 'C', a voidable contract.
**Voidable Contract:**
A voidable contract is a valid contract that can be enforced by law at the option of one or more of the parties involved, but not at the option of the other party or parties. This means that one party has the right to enforce the contract, while the other party has the option to either enforce the contract or void it.
**Enforceability:**
The enforceability of a contract depends on various factors, including the consent of the parties, the legality of the terms, and the capacity of the parties to enter into a contract. In the case of a voidable contract, it is enforceable as long as the party who has the option to enforce it chooses to do so.
**Example:**
Let's consider an example to understand this concept better. Suppose A enters into a contract with B to sell a car. A is the seller and B is the buyer. However, A later realizes that the car has some major defects that were not disclosed to B at the time of the agreement. In this case, A has the option to enforce the contract and sell the car to B, despite the defects. However, B has the option to either enforce the contract and purchase the car, or to void the contract and walk away.
**Conclusion:**
In summary, a voidable contract is an agreement that is enforceable by law at the option of one or more parties, but not at the option of the other party or parties. It is important to understand the different types of contracts and their enforceability to ensure that all parties involved are aware of their rights and obligations.
A contract is a legally binding agreement between two or more parties. It is important to understand the different types of contracts and their enforceability. In this case, the correct answer is option 'C', a voidable contract.
**Voidable Contract:**
A voidable contract is a valid contract that can be enforced by law at the option of one or more of the parties involved, but not at the option of the other party or parties. This means that one party has the right to enforce the contract, while the other party has the option to either enforce the contract or void it.
**Enforceability:**
The enforceability of a contract depends on various factors, including the consent of the parties, the legality of the terms, and the capacity of the parties to enter into a contract. In the case of a voidable contract, it is enforceable as long as the party who has the option to enforce it chooses to do so.
**Example:**
Let's consider an example to understand this concept better. Suppose A enters into a contract with B to sell a car. A is the seller and B is the buyer. However, A later realizes that the car has some major defects that were not disclosed to B at the time of the agreement. In this case, A has the option to enforce the contract and sell the car to B, despite the defects. However, B has the option to either enforce the contract and purchase the car, or to void the contract and walk away.
**Conclusion:**
In summary, a voidable contract is an agreement that is enforceable by law at the option of one or more parties, but not at the option of the other party or parties. It is important to understand the different types of contracts and their enforceability to ensure that all parties involved are aware of their rights and obligations.
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An agreement which is enforceable by law at the option of one or more ...
(i) An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at the option of the other or others, is a voidable contract; (j) A contract which ceases to be enforceable by law becomes void when it ceases to be enforceable.
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An agreement which is enforceable by law at the option of one or more of the parties thereon but not at the option of the other or others is aa)Valid Contract.b)Void Contract.c)Voidable Contract.d)Illegal Contract.Correct answer is option 'C'. Can you explain this answer?
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