Contracts
In Ohio, a contract is considered 'void' if:
AIt has a minor technical defect
BIt lacks an essential element, such as legal purpose, and has no legal effect✓ Correct
COne party was under duress when signing
DThe earnest money was not deposited on time
Explanation
A void contract has no legal force because it lacks an essential element (e.g., legal purpose, mutual consent). It cannot be enforced by either party and is treated as if it never existed.
Related Ohio Contracts Questions
- In Ohio, a purchase agreement becomes binding when:
- Which type of Ohio listing agreement gives the broker the exclusive right to earn a commission regardless of who sells the property?
- Which clause in an Ohio purchase contract allows the buyer to cancel if they cannot obtain financing?
- In Ohio, which of the following describes a 'net listing'?
- What is the legal concept of 'meeting of the minds' in contract formation?
- What is the difference between void and voidable contracts in Ohio?
- Under Ohio law, a minor (under 18) who signs a real estate contract may:
- What is specific performance as a remedy in a real estate contract dispute?
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