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 thereto

Option A: is a void contract

Option B: is an illegal contract

Option C: is a voidable contract

Option D: is an unenforceable agreement

Correct Answer

Option: c

Explanation

A voidable contract, unlike a void contract, is a valid contract which may be either affirmed or rejected at the option of one of the parties. At most, one party to the contract is bound. The unbound party may repudiate the contract, at which time the contract becomes void. Section 2(i) defines “voidable contract”.

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