If Owner A hires someone to burn down their building for insurance money, what is the status of that contract?

The status of the contract in this scenario is classified as a void contract because it involves illegal activity. In legal terms, a void contract is one that cannot be enforced by law from the moment it is created due to its illegal nature or violation of public policy. Since the intent of Owner A is to commit fraud by burning down their building for insurance money, the agreement to do so lacks legal validity.

Contracts that are based on illegal acts are automatically considered void because they contradict societal laws and ethics. This means no party can enforce the contract or seek legal remedies for breach, as the contract itself was never legitimate to begin with. In contrast, a valid contract would have to fulfill all legal requirements, a voidable contract could be enforceable at the discretion of one party, and an executed contract refers to those that have been completed. None of these options appropriately describe the nature of a contract based on criminal actions.