Void vs Voidable
Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!
Void Contracts
-Misrepresentation. -Drunkeness. -Prodigality. -Undue Influence. -Duress.
Voidable Contracts
-Mistake. -Contract with Insane person. -Requires performance of an illegal act. -Requires performance of something impossible. -Contrary to public policy. -Contracts which restrain certain acts. Eg: Right to legal proceedings, Right to Work for a living.
Void
Contracts are unenforceable by law. Even if one party breaches the agreement, you cannot recover anything because essentially there was no valid contract.
Voidable
Contracts are valid agreements, but one or both of the parties to the contract can void the contract at any time. As a result, you may not be able to enforce a voidable contract.
