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JAMB Commerce 2010 Question 41

Question 41

Law of Contract

An opportunity to reject a binding contract at will by a third party is said to be a

  1. A.valid contract
  2. B.quasi contract
  3. C.voidable contract
  4. D.conditional contract.
Show the answer and explanation

Answer: C (voidable contract)

Explanation

A voidable contract is binding until the party who has the right chooses to reject it.