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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 .
A contract is an agreement enforceable by law. A void agreement is one which cannot be enforced by law. Sometimes an agreement which is enforceable by law, i.e., a contract, can become void. Void agreements are different from voidable contracts, which are contracts that may be nullified. However, when a contract is being written and signed ...
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 .
The law of mistake in any given contract is governed by the law governing the contract. The law from country to country can differ significantly. For instance, contracts entered into under a relevant mistake have not been voidable in English law since Great Peace Shipping Ltd v Tsavliris (International) Ltd (2002). [2]
Cheshire, Fifoot and Furmston's Law of Contract. Oxford University Press. ISBN 0-19-928756-2. Articles "Contracts. Defenses. Infancy. Ratification without knowledge that contract is voidable". Harvard Law Review. 29 (4). The Harvard Law Review Association. 1916., 452; Dudley, Sidney (1913). "Intoxication as a Defense to an Express Contract".
A contract is null from the beginning if it seriously offends law or public policy in contrast to a contract which is merely voidable at the election of one of the parties to the contract. In practical terms, 'void' is usually used in contradistinction to ' voidable ' and ' unenforceable ', the principal difference being that an action which is ...
Voidable contract 2(i): An agreement is a voidable contract if it is enforceable by Law at the option of one or more of the parties there to (i.e. the aggrieved party), and it is not enforceable by Law at the option of the other or others. 11. Void contract 2(j): A contract becomes void when it ceases to be enforceable by law.
The Divisional Court held that Lindsay could not recover the handkerchiefs from Cundy. Blackburn J, giving judgment, held the following. [5]The rule of law has been thoroughly established—the cases are numerous, and I need not cite them—that where a contract is voidable on the ground of fraud, you may avoid it, so long as the goods remain in the man's hands who is guilty of the fraud, or ...