Contract Law Quiz

A rescissible contract is initially valid but can be revoked if it causes economic injury to a party or a third party. (True/False)

• True

• False

A voidable contract is automatically unenforceable from the beginning. (True/False)

• True

• False

Contracts entered into by minors are always considered void. (True/False)

• True

• False

Unenforceable contracts can never be ratified. (True/False)

• True

• False

A contract is void if it violates laws, morals, public policy, or public order. (True/False)

• True

• False

Contracts that fail to meet the requirements of the Statute of Frauds are considered void. (True/False)

• True

• False

A contract entered into through fraud can be annulled. (True/False)

• True

• False

If a void contract has separable legal parts, the valid portions may still be enforced. (True/False)

• True

• False

Reformation of a contract is used to modify its terms to reflect the true intention of the parties. (True/False)

• True

• False

A debtor who fraudulently enters into a contract to defeat creditors' rights may be subject to rescission. (True/False)

• True

• False