A voidable contract not cancelled by the aggrieved party within a reasonable time:
AIs treated as valid
BBecomes void at once
CIs cancelled by law
DTurns illegal in law
Answer & Solution
Correct answer: A. Is treated as valid
The aggrieved party's option does not last forever; delay lets the contract stand as valid.
Keep practising Nature of Contracts
Browse all Nature of Contracts questions for CA Foundation, or explore more Businesslaw topics.
Related questions
England passed the Statute of Frauds, favouring written contracts, in:Obligations that are voluntarily undertaken and owed to specific persons are traditionallyA peppercorn in contract law is an example of:If the law does not require a contract to be written, an oral contract is generally:An agreement to agree on key terms later is:In commercial agreements, the presumption is that the parties intend to:Domestic agreements between parent and child are typically:Mutual assent in forming a contract is also called a: