PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
A voidable contract is a valid contract that one protected party may affirm or avoid because of a legal condition such as fraud, duress, misrepresentation, incapacity, or another recognized defense.
Contracts
Contract remedies and status
Define, distinguish, apply, retrieve
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PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEBuild the complete exam definition
Learn the rule, separate it from the nearest distractor, then apply it to a Georgia fact pattern.
What does Voidable contract mean?
A voidable contract is a valid contract that one protected party may affirm or avoid because of a legal condition such as fraud, duress, misrepresentation, incapacity, or another recognized defense.
How do you separate the nearest exam answer?
A voidable contract operates unless avoided by the protected party. A void contract never had legal effect.
What changes or stays the same in Georgia?
The national distinction applies in Georgia. The party with the legal protection, not automatically either party, holds the power to avoid.
A buyer signs because of the seller's material fraudulent misrepresentation and may elect to rescind rather than affirm the transaction.
Do not say both parties may cancel at will. Voidability belongs to the protected party under the relevant defense.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDERetrieve the rule under exam conditions
Answer before reading the explanation. Then explain why every distractor belongs to a different term.
A buyer signs a purchase contract after the seller knowingly lies that the basement has never flooded. The buyer discovers the truth before closing. Who may choose to cancel the contract on that ground?
- A
Either party, since the contract is void
- B
The seller, as the party who made the statement
- C
Neither party, since it is signed and binding
- D
Only the buyer, as the party defrauded
Fraud makes a contract voidable, meaning it stays valid unless the protected party chooses to avoid it. The buyer was the one defrauded, so the buyer alone may affirm or rescind. The contract is not void, and the seller cannot use the seller's own fraud as a way out.
Mark each box only when you can perform the skill without looking.
I can define the term in one precise sentence.
I can separate it from the closest look-alike.
I can explain the Georgia rule or confirm that the national rule applies.
I can answer the practice check and explain every option.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEConnect the term to the wider exam
Use these relationships to move from isolated recall to a connected exam model.
Contracts complete lesson
https://www.passgeorgiarealestate.com/study-guide/contracts/performance-breach-remedies
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