OH Auctioneer Practice Questions - Ohio Licensed Auctioneer Exam

What is the difference between a 'void' and a 'voidable' contract in Ohio auction law?

They are the same thing A void contract was never legally valid; a voidable contract is valid until one party elects to cancel it A void contract can be enforced; a voidable contract cannot Only real estate contracts can be voidable

Correct Answer:

A void contract was never legally valid; a voidable contract is valid until one party elects to cancel it

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