Persons Comparison among Void and Voidable Marriages and Legal Separation
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voic, voidable marriages
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Courts use the term "unconscionable to describe conduct that is either unjust or one sided to benefit one party more than the other. In contract law, an unconscionable contract is one that no reasonable person would enter into without some very compe
This document is a Contract between a manufacturer and a company which has developed a particular product. You can use this Contract to specify product specifications, orders, inventory, payment de...
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A contract is a voluntary arrangement between two or more parties that is enforceable at law as a binding legal agreement. Contract is a branch of the law of obligations in jurisdictions of the civil law tradition. Contract law concerns the rights and duties that arise from agreements. A contract can be both written or oral. Elements of contract:
The elements of any contract are: Offer: An offer states the willingness and the ability of a party to perform a work in return of consideration. An offer is also known as a proposal and it is expressed either verbally or through writing. Hence an offer plays a dominant role in the formation of a contract. Acceptance: An acceptance creates a contract and terminates the power of revocation. An offer or proposal can be accepted rejected or amended which must be a voluntary act. An amended offer is known as a counter offer in which the previously offering party is now being offered a modified offer by the previous offered party. Acceptance of an offer is crucial for determining the legal legalit ity y of the the cont contra ract ct.. !f a contr contract act is acce accept pted ed thro through ugh coer coerci cion on undu unduee infl influe uence nce or misrepresentation the offer can be made voidable Mutual Assent: The parties understand and agree to the basic substance and terms of the contract. "oth parties should agree to be legally obligated to the terms and consideration of the contract. Consideration: Consideration is the factor that persuades the parties to enter into the contract. A consideration is the value promised by a promisor for performing or not performing any task. !t can be in terms of money mone y services services assets or refraining from performing # .
$oid Contracts % a void contract is not a contract and has no n o effect in a court of law and cannot be enforced in a court of law. &ost commonly a void contract will be missing one or all of the essential elements needed for a valid contract. 'either party needs to take action to terminate it since it was never a contract to begin with. (xample A contract that was between an illegal drug dealer and an illegal drug supplier to purchase a specified amount of drugs for a specified amount. (ither one of the parties could void the contract since there is no lawful objective objective and hence missing missing one of the elements elements of a valid contract. $oidable Contracts A voidable contract is a contract which may appear to be valid and has all of the necessary elements to be enforceable but has some type of flaw which could cause one or both of the parties to void the contract. The contract is legally binding but could become void. !f there is an
injured party involved the injured party or the defrauded must take action otherwise the contract is considered valid. (xample A contract entered into with a minor could be voidable.
!n which cases a contract can be void) An agreement is said to be void because of mistake lack of consideration want of capacity etc. A list of void agreements is given below: *. +ack of capacity. ,. &utual mistake of fact. #. -nlawful consideration or object. . Consideration or object partly unlawful. /. Agreements without consideration. 0. Agreements in restraint of trade. 1. Agreements in restraint of legal proceedings. 2. -ncertain Agreement. 3. Agreements by way of wager. *4. !mpossible acts. **. Agreements contingent on impossible event. *,. 5eciprocal promises where there are void promises. *#. Agreement is restraint of trade
6efinition of $oid Contract:
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 re7uired to constitute a valid contract i.e. free consent capacity consideration a lawful object etc. "ut due to a subse7uent change in any law or impossibility of an act which are beyond the imagination and control of the parties to the contract the contract cannot be performed and hence it becomes void. 8urther no party cannot sue the other party for the non%performance of the contract. The contract becomes void due to the change in any law or any government policy for the time being in force in !ndia. Along with that the contracts which are opposed to public policy also ceases its enforceability. Contracts with incompetent persons are also declared void like minor persons of unsound mind alien enemy or convict etc.
6efinition of $oidable Contract: $oidable Contract is the contract which can be enforceable only at the option of one of the two parties to the contract. !n this type of contract one party is legally authori9ed 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 party is influenced by coercion undue influence fraud or misrepresentation etc. The contract becomes valid until the aggrieved party does not cancel it. &oreover the party aggrieved party has the right to claim damages from the other party.
Void contract
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A void agreement is void from the beginning for this reason it can not be called as a contract. A void agreement confers no right on any person and creates no obligations
Voidable contract
A voidable agreement is one which can be terminated i.e. set aside by aggrieved parties to it. -ntil it is terminated it is a good contract. "ut in case of voidable agreement the rights and obligations of the parties concerned are present unless it is cancelled. As a void agreement i s not e nforceable "ut in case of voidable agreement contract is from the beginning it is not necessary for enforceable unless it is cancelled by aggrieved the effected party to declare the agreement party. void.
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!n case of void agreement the party is not "ut in case of voidable agreement the party may bound to refund the benefit received to the refund the benefit to the aggrieved party if the other party. agreement becomes void later on. A void agreement originates by an A voidable agreement originates by contracts agreement made by a minor agreements brought about by coercion undue influence and without consideration certain agreements misrepresentation against public policy illegal objectives. The rights obtained by void agreement if !n case of voidable agreement unless the transferred to a third party the third party effected party declared the agreement to be void does not under any circumstances obtains the third party gains legal title for the rights a legal title. transferred if he acts upon good faith.
!n which cases a contract can be void) An agreement is said to be void because of mistake lack of consideration want of capacity etc. A list of void agreements is given below: *. +ack of capacity. ,. &utual mistake of fact. #. -nlawful consideration or object. . Consideration or object partly unlawful. /. Agreements without consideration. 0. Agreements in restraint of trade. 1. Agreements in restraint of legal proceedings. 2. -ncertain Agreement. 3. Agreements by way of wager. *4. !mpossible acts. **. Agreements contingent on impossible event. *,. 5eciprocal promises where there are void promises. *#. Agreement is restraint of trade
(xamples
A promises " to sell his horse after one month to " for 5s. /4444. "efore the completion of one month the horse died. 'ow the contract becomes void as the contract cannot be performed i.e. the object on which the parties agreed is no more so there is an impossibility of performance of the contract. This type of Contract is known as $oid Contract. ; says to < that he should sell his new bungalow to him at a nominal price otherwise he will damage his property and < enters into a contract due to fear. !n this situation the contract voidable as the consent of < is not free so he has the right to avoid the performance of his part. As well as he can claim for an y damages caused to him.
