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<p><strong><span>a) One party is unwilling to perform</span></strong></p> <p><strong><span>b) One party is unable to finance his part of the work</span></strong></p> <p><strong><span>c) It is in violation of applicable law</span></strong></p> <p><strong><span>d) It is declared void and null by one party.</span></strong></p>
(C) It is in violation of applicable law.
A contract is an agreement enforceable law. Not to be enforceable it should become in contravention of the existing laws prevailing.
The provisions are universally applicable all over and is coming under the Provisions of Commercial Law. Also referred to as Mercantile Law. ---Contracts Act.
To become non enforceable it is to be mutually agreed upon to withdraw the provisions and one cannot take a unilateral decision.
The one and only one correct answer is : c) It is in violation of applicable law. (in the given answers)
The answer is C
Once signed, a contract is binding. Generally, the inability to perform, get financing, or one party's belief that the contract is null and void does not change the fact that the contract is binding. If, however, both sides agree to terminate the contract, the contract can move into closure. Once closure is completed, the project is consideredcompleted.
C
D need elaboration, declared null and void in what context? and what right does a party have to declare it void?
A and B still make the contract legally binding unless it leads to termination
The correct answer is :
c) It is in violation of applicable law
Once signed, a contract is legally binding provided:
1. it is declared null and void by either party’s legal counsel2. one party is unable to perform3. one party is unable to finance its part of the work4. it is not in violation of applicable law
C. Violation of law.
Law stands above all contractHal terms.
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