A(n) __________ is an agreement wherein one party has the right to withdraw from the promise made without incurring any legal liability. Multiple Choice executed contract voidable contract void contract reciprocal contract implied-in-fact contract

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21-06-2022
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A(n) __________ is an agreement wherein one party has the right to withdraw from the promise made without incurring any legal liability. Multiple Choice executed contract voidable contract void contract reciprocal contract implied-in-fact contract

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aarinimishra75 aarinimishra75 · Answer 1 · 2022-06-28T13:28:00+02:00

A "voidable contract" is a contract where at least one party has the option to back out of the commitment made without facing any legal repercussions.

What is agreement?

A legal agreement between two parties is referred to as a "agreement." To enter into an agreement, one party must make an offer, and the other party must accept the offer's conditions.

A formal contract that is voidable allows the parties to cancel it without being held legally responsible.

A voidable contract can be terminated for legal grounds such fraud, misrepresentation, printing error, and unconditional terms, among others. The contract would not have been accepted by one of the parties involved.

As a result, (a) voidable contract is correct option.

Learn more about on agreement, here:

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