Contracts
A Wyoming real estate contract is void if it:
AWas signed under mild economic pressure
BHas an illegal purpose, such as an agreement to defraud a lender✓ Correct
CWas drafted without using a standard form
DDoes not specify the commission to be paid
Explanation
A void contract has no legal effect from the start—it cannot be enforced by either party. Contracts are void if they have an illegal purpose (such as fraud), are entered into by a person legally incapable (e.g., adjudicated incompetent), or violate public policy.
Related Wyoming Contracts Questions
- When does an exclusive listing agreement in Wyoming typically become binding?
- A Wyoming purchase contract is considered 'contingent' until:
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- A Wyoming 'net listing' contract specifies that the seller will receive $350,000 and the broker will retain anything above that amount as commission. If the property sells for $410,000, the broker receives:
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