Question

An agreement enforceable by law at the option of one party is ______.

• A. Void contract
• B. Voidable contract
• C. Valid contract
• D. Enforceable contract

Hint:

A voidable contract is legally valid but gives one party the option to cancel it due to factors like coercion, fraud, or misrepresentation.

Answer 1

The Correct Option is B

Step 1: Understand the different types of contracts. 
A void contract is not enforceable by law. It is invalid from the beginning or becomes invalid due to some reason. 
A valid contract is enforceable by law and is binding on all parties.
An enforceable contract generally refers to a valid contract that meets all legal requirements and is legally binding.
A voidable contract is a valid contract but gives one party the option to either enforce or cancel it. 
Step 2: Focus on the phrase "enforceable by law at the option of one party." 
This clearly describes a situation where one party has the power to enforce the agreement, while the other party is bound. 
Example: 
If a contract is made under coercion, the party who was coerced can either: 
continue with the contract (enforce it), or 
cancel it (make it void). 
This makes the contract voidable at the option of the coerced party. 
Conclusion: 
Hence, the correct type of contract that fits this definition is a voidable contract.