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Dec 20, 2023 · “void” and “voidable” are often mistakenly used interchangeably. Although these terms may seem similar, they are quite different. A contract held to be void cannot be enforced by either party.
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- Public Policy
- Definition of Void Contract
- Definition of Voidable Contract
- Examples
- Conclusion
A void contract is a contract which is not enforceable in the court of law. At the time of formation of the contract, the contract is valid as it fulfills all the necessary conditions required to constitute a valid contract, i.e. free consent, capacity, consideration, a lawful object, etc. But due to a subsequent change in any law or impossibility ...
Voidable Contract is the contract which can be enforceable only at the option of one of the two parties to the contract. In this type of contract, one party is legally authorized to make a decision to perform or not to perform his part. The aggrieved party is independent to choose the action. The right may arise because the consent of the concerned...
A promises B to sell his horse after one month to B for Rs. 50,000. Before the completion of one month, the horse died. Now, the contract becomes void as the contract cannot be performed, i.e. the...X says to Y, that he should sell his new bungalow to him at a nominal price otherwise, he will damage his property and Y enters into a contract due to fear. In this situation, the contract voidable...There are many contracts which are valid, but sometimes due to certain circumstances, they cease to be enforceable which makes them a void contract because it is impossible that the contract is to be further executed. Similarly, many people unlawfully induce or persuade the will of another person to enter into a contract, which becomes voidable at ...
Oct 3, 2024 · Unlike a void contract, a voidable contract is legally enforceable until one party decides to void it. The key difference lies in the fact that voidable contracts are considered valid and enforceable unless and until they are voided.
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Sep 4, 2024 · The difference between void and voidable contracts is that a void contract is illegal and unenforceable, while a voidable contract is legal, and the parties can enforce it. A void contract is invalid or entirely against the law, so no one involved can say it's enforceable under the law.
Apr 16, 2024 · A contract is void from the beginning. A contract becomes voidable along the way. A void contract is unenforceable, no matter the situation. A voidable contract can only be annulled if the court sees legal reasons to do so. A void contract is invalid even if none of the parties revoke or cancel it.
Dec 2, 2022 · A void contract is one that is not enforceable. Typically, void contracts refer to contracts that are legally illegitimate from the moment the parties make the agreement. Confusingly, however, a previously enforceable contract may become void if certain factors entitles one of the parties to terminate the contract.
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Voidable contracts: Voidable contracts are those where minor breaches exist, e.g., breach of the duty of utmost good faith. In such circumstances it is the option of the aggrieved party to decide whether the contract is to be treated as valid. If the aggrieved party so decides then the contract becomes a good valid enforceable contract.
