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For example, an agreement between drug dealers and buyers is a void agreement simply because the terms of the contract are illegal. In such a case, neither party can go to court to enforce the contract. A void agreement is void ab initio, i e from the beginning while a voidable contract can be voidable by one or all of the parties.
A voidable contract, unlike a void contract, is a valid contract which may be either affirmed or rejected at the option of one of the parties. At most, one party to the contract is bound . The unbound party may repudiate (reject) the contract, at which time the contract becomes void .
The term void ab initio, which means "to be treated as invalid from the outset", comes from adding the Latin phrase ab initio (from the beginning) as a qualifier. For example, in many jurisdictions where a person signs a contract under duress, that contract is treated as being void ab initio. The frequent combination "null and void" is a legal ...
It was a raw uncut diamond worth hundreds of times the selling price. The contract is not voidable. There was no mistake because neither party knew what the stone was. [5] Conversely, in a case where a person sells a cow for $80 because they think it is infertile and the cow turns out to be pregnant and worth $1000, the contract would be void. [6]
Voidable, in law, is a transaction or action that is valid but may be annulled by one of the parties to the transaction. Voidable is usually used in distinction to void ab initio (or void from the outset) and unenforceable .
A difference exists between a void marriage and a voidable marriage. A void marriage is a marriage that was not legally valid under the laws of the jurisdiction where the marriage occurred, and is void ab initio. Although the marriage is void as a matter of law, in some jurisdictions an annulment is required to establish that the marriage is ...
A Georgia judge struck down an array of rules passed by the state's GOP-led State Elections Board last month. The measures were the subject of fierce debate. ... unconstitutional and void" in an ...
A contract vitiated by misrepresentation is voidable and not void ab initio. The misled party may either (i) rescind, or (ii) affirm and continue to be bound. The misled party may either (i) rescind, or (ii) affirm and continue to be bound.