Contracts
In Vermont, a real estate contract that is 'void' differs from one that is 'voidable' in that a void contract:
ACan be made valid by mutual agreement
BHas no legal effect from the beginning and cannot be ratified✓ Correct
CIs enforceable only by one party
DRequires court approval to terminate
Explanation
A void contract has no legal effect and cannot be enforced or ratified by either party — it is treated as if it never existed. A voidable contract is initially valid but may be avoided by one party (such as a minor or a party under duress) through timely action.
Related Vermont Contracts Questions
- Which of the following is NOT a way a Vermont real estate contract can be terminated?
- Vermont's 'home warranty' included in some real estate transactions provides:
- A Vermont seller's disclosure form (property condition disclosure) is designed to:
- Vermont's 'notice requirements' in a real estate contract typically require that notices be:
- Vermont's 'closing cost allocation' between buyer and seller is determined by:
- Vermont's 'purchase price allocation' between land and building in a commercial sale affects:
- Vermont's 'environmental contingency' in a commercial purchase contract allows the buyer to:
- Vermont's 'contract for deed' (land installment contract) arrangement means:
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