Question

According to enforceability, the contracts may be classified as:
a. valid contracts b. void contracts
C. voidable contracts
d. all of the above.​

Answer 1

Answer:

Valid Contract (answer A)

Answer 2

According to enforceability, the contracts may be classified as Valid, Void, Voidable contracts. (Option d)

• Valid contracts are legally enforceable and binding. It involves two parties where both are legal entities.
• Void contracts are agreements that are no longer enforceable or legal. It is illegal and invalid before signing the contract.
• Voidable contracts are those which can become void on fulfillment of certain conditions. These conditions are determined by the parties entering into a contract.