What is the difference between a void agreement and a voidable contract?
Understand the Problem
The question is asking for the distinctions between a void agreement and a voidable contract, likely seeking clarification on their definitions and implications in legal terms.
Answer
A void contract is unenforceable from the beginning; a voidable contract can be canceled by one of the parties.
The final answer is: A void contract is inherently unenforceable and invalid from the outset, while a voidable contract is initially valid and enforceable but can be canceled or revoked by one of the parties for specific legal reasons.
Answer for screen readers
The final answer is: A void contract is inherently unenforceable and invalid from the outset, while a voidable contract is initially valid and enforceable but can be canceled or revoked by one of the parties for specific legal reasons.
More Information
A void contract is null from the start, meaning it lacks any legal effect. Common examples include contracts involving illegal activities. In contrast, a voidable contract can be legally binding but contains elements that allow one party to reject it, such as fraud or misrepresentation.
