Formation: Enforceability

Question 1

Definition: Enforceability

Answer 1

A defense to formation or a defense to enforcement may render K void, voidable, or unenforceable.

Question 2

Definition: Void Ks

Answer 2

Entire transaction is null, as if no K existed.

Question 3

Definition: Voidable Ks

Answer 3

Operates as valid K until/unless one party takes steps to avoid it.

Question 4

Definition: Unenforceable Ks

Answer 4

Valid K that cannot be enforced if one party refuses to carry out its terms.