Contracts
A real estate contract that is 'voidable' means it:
AIs automatically unenforceable by all parties
BMay be disaffirmed by one of the parties due to a legal defect but remains valid until voided✓ Correct
CHas already been declared void by a court
DContains illegal terms and cannot be enforced
Explanation
A voidable contract is valid and binding unless and until the party with the right to void it (e.g., a minor) chooses to disaffirm it. Until voided, it can be enforced.
Related Nebraska Contracts Questions
- In Nebraska, a real estate purchase agreement must be in writing to be enforceable under:
- A purchase agreement is considered 'executory' when:
- Which of the following is a valid way to terminate a listing agreement in Nebraska before its expiration date?
- Under Nebraska law, a contract for the sale of real estate requires the party to be charged to:
- A unilateral contract is one in which:
- A Nebraska seller who changes their mind after signing a purchase agreement but before the buyer has signed would be:
- An 'acceleration clause' in a Nebraska mortgage means:
- A unilateral contract in real estate is exemplified by:
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