Define binding unless avoided or declared void by a party

Assignment Help Other Subject
Reference no: EM131627843

In contracts, voidable is a term typically used with respect to a contract that is valid and binding unless avoided or declared void by a party to the contract who is legitimately exercising a power to avoid the contractual obligations.

A contract may be voidable on the grounds of:
Fraud
Mistake
Misrepresentation
Lack of capacity
Duress
Undue Influence

Abuse of a fiduciary relationship

For this week's discussion board address the following:

Should we allow for voidable contracts? Why or why not?

From the list above, provide an example scenario forone(not all) of the listed grounds. For example: Duress: Max tells Rhonda that he will kidnap Rhonda's children if she does not enter into the contract. Rhonda signs it, but later wants to get out of it. This will be a voidable contract based on duress.

From the list above, add another reason that you think should be ground to make a contract voidable and explain why it would be a good addition.

Reference no: EM131627843

Questions Cloud

What really drives a company strategy : What Really Drives A Company's Strategy?
Ethical implications of big data : The ethical implications of using Big Data, i.e., handling and utilizing personal information collected through various means, is a far-reaching subject matter
Define what tort was the basis of their lawsuit : The landowners and the city which owned the drawbridge sued the owners of the Shiras. What tort was the basis of their lawsuit
What lump sum should your parents set aside today : Your parents are retiring and want to set aside a lump sum earning 8% annual interest compounded quarterly to pay out $5,000 quarterly for ten years.
Define binding unless avoided or declared void by a party : contract that is valid and binding unless avoided or declared void by a party to the contract who is legitimately exercising
How much must company set aside each year in a sinking fund : Danny Lawrence Properties, Inc., has a bond issue that will mature in 25 years for $1 million. How much must the company set aside each year in a sinking fund.
What responsibilities do the employee to the community : What are the five [5] fundamental approaches used when implementing strategies? what responsibilities do the employee to the community?
Schedule a itemized deductions : Looking at the items below, which ones can they itemize, and what is the total they can take on their Schedule A itemized deductions?
Find the lump sum amount if annual interest is given : An annual ordinary annuity of $2,500 for five years at 5% annual interest requires what lump-sum payment now?

Reviews

Write a Review

Other Subject Questions & Answers

  Cross-cultural opportunities and conflicts in canada

Short Paper on Cross-cultural Opportunities and Conflicts in Canada.

  Sociology theory questions

Sociology are very fundamental in nature. Role strain and role constraint speak about the duties and responsibilities of the roles of people in society or in a group. A short theory about Darwin and Moths is also answered.

  A book review on unfaithful angels

This review will help the reader understand the social work profession through different concepts giving the glimpse of why the social work profession might have drifted away from its original purpose of serving the poor.

  Disorder paper: schizophrenia

Schizophrenia does not really have just one single cause. It is a possibility that this disorder could be inherited but not all doctors are sure.

  Individual assignment: two models handout and rubric

Individual Assignment : Two Models Handout and Rubric,    This paper will allow you to understand and evaluate two vastly different organizational models and to effectively communicate their differences.

  Developing strategic intent for toyota

The following report includes the description about the organization, its strategies, industry analysis in which it operates and its position in the industry.

  Gasoline powered passenger vehicles

In this study, we examine how gasoline price volatility and income of the consumers impacts consumer's demand for gasoline.

  An aspect of poverty in canada

Economics thesis undergrad 4th year paper to write. it should be about 22 pages in length, literature review, economic analysis and then data or cost benefit analysis.

  Ngn customer satisfaction qos indicator for 3g services

The paper aims to highlight the global trends in countries and regions where 3G has already been introduced and propose an implementation plan to the telecom operators of developing countries.

  Prepare a power point presentation

Prepare the power point presentation for the case: Santa Fe Independent School District

  Information literacy is important in this environment

Information literacy is critically important in this contemporary environment

  Associative property of multiplication

Write a definition for associative property of multiplication.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd