Final answer:
True, an option to cancel a contract before its commencement does not make the promise illusory, as it provides flexibility and protection while still representing a firm commitment conditional on certain terms being met.
Step-by-step explanation:
- True, an option to cancel the performance of a contract before it begins does not necessarily make the promise illusory. In contract law, for a promise to be considered illusory, there must be an element of deception or a lack of firm commitment from the party making the promise.
- However, having an option to cancel the contract implies that there is a valid offer and an acceptance but with an added condition that allows one or both parties to terminate the agreement under certain circumstances.
- These types of clauses are often included to provide flexibility and protection for the parties involved, ensuring that if specific conditions are not met, they are not obligated to follow through with the contract.