Final answer:
In law, a contract is usually void when one party is a minor, consideration is incomplete, or no agreement is reached. However, a contract is not considered void simply because the consideration is unequal. Thus, the correct answer is B. When consideration is unequal.
Step-by-step explanation:
A contract is a legally binding agreement between two or more parties that is enforceable by law. For a contract to be considered valid, it must satisfy certain legal criteria. Let's examine the options given:
- When one party is a minor: Contracts with minors are generally considered voidable, not void. A minor can choose to void the contract or continue with it upon reaching the age of majority, unless the contract is for essential items.
- When consideration is unequal: Unequal consideration does not necessarily make a contract void. The value of the consideration must simply be legal and sufficient, although it does not have to be equal or fair.
- When consideration is incomplete: Incomplete or lack of consideration can render a contract void because consideration is one of the essential elements for forming a valid contract.
- When agreement cannot be reached between parties: If parties cannot agree on the terms of the contract, then no contract exists. It's not about being void—there's simply no contract to be void or voidable.
Therefore, the correct answer is B. When consideration is unequal, because unequal consideration does not inherently invalidate a contract, assuming that other legal requirements are met.