Asked by
Aidyl Sagelliv
on Nov 10, 2024Verified
When there is a(n) ________ (a right to seize property) , or when there is a right to set off a debt against the obligations created by the contract, the parties themselves may be able to enforce the contract without the help of the courts.
A) provision
B) indemnity
C) lien
D) obligation
E) court order
Lien
A legal right or interest that a creditor has in the debtor's property, until a debt or duty that it secures is satisfied.
Court Order
A directive issued by a judicial authority, requiring an individual or entity to perform or cease performing a specific action.
Enforcement
The act of ensuring compliance with laws, regulations, or agreements through legal means or actions.
- Discern the reasons why contracts are classified into categories such as void, voidable, unenforceable, or illegal.
- Differentiate among various contract types in terms of their legal standings and enforceability.
Verified Answer
KG
Learning Objectives
- Discern the reasons why contracts are classified into categories such as void, voidable, unenforceable, or illegal.
- Differentiate among various contract types in terms of their legal standings and enforceability.