Contracts
Which of the following is a characteristic of a 'voidable' contract?
ANeither party can enforce it under any circumstances
BIt appears valid but one party has the right to rescind it✓ Correct
CIt requires court approval to be effective
DIt is automatically cancelled after 60 days
Explanation
A voidable contract appears valid and is enforceable unless the party with the right to void it (e.g., a minor, a person induced by fraud) chooses to rescind. Until rescinded, it is treated as a binding contract.
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