BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -Simply put, contract fraud occurs when a person knowingly makes a false statement in order to have someone else agree to a contract. This act is intended to deceive or trick the other person into signing a contract that they may not otherwise agree to.
Detailed explanation-2: -A void agreement is not legally binding. A void agreement loses its legal nature when it is declared void. This kind of agreement sets forth no rights or obligations on behalf of the parties, as well as no legal rights.
Detailed explanation-3: -The agreement is void, as its object is unlawful.
Detailed explanation-4: –All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void."