Contracts
In Minnesota, a purchase agreement void from the beginning due to lack of capacity by one party (such as a minor) is considered:
AVoidable by the competent party
BVoid ab initio—having no legal effect from the start✓ Correct
CBinding on the competent party only
DEnforceable at the court's discretion
Explanation
A contract that lacks an essential element from the beginning—such as when a minor (who lacks contractual capacity in Minnesota) enters into a real estate purchase agreement—may be void ab initio (void from the start), having no legal effect. A voidable contract is valid until one party elects to avoid it.
Related Minnesota Contracts Questions
- A Minnesota purchase agreement that includes a 'kick-out clause' allows the seller to:
- A Minnesota buyer is purchasing a new construction home from a builder. The builder's standard contract contains an arbitration clause and limitation of liability provisions. The buyer:
- In Minnesota, what is the effect of the integration clause (entire agreement clause) in a purchase agreement?
- A Minnesota purchase agreement that is 'voidable' means:
- In Minnesota, a 'novation' in a real estate contract occurs when:
- In Minnesota, a 'bilateral contract' in real estate is one where:
- In Minnesota real estate, a counteroffer legally:
- Which type of listing agreement gives only one broker the right to sell, and the seller must pay a commission even if the seller finds the buyer?
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →