CA Foundation Exam > CA Foundation Questions > Which of the following are void contracts?a)A...
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Which of the following are void contracts?
- a)Agreement with unlawful consideration
- b)Agreement with inadequate consideration, if inadequacy is not supported by free consent.
- c)Agreement the meaning of which is certain
- d)Agreement in respect of legal proceedings
Correct answer is option 'A'. Can you explain this answer?
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Which of the following are void contracts?a)Agreement with unlawful co...
Void Contracts:
Void Contracts Examples:
Void contracts are agreements that are not legally binding and have no legal effect. They are considered as if they never existed. In general, a contract may be void if it lacks certain essential elements or if it violates the law.
Void Contracts Examples:
- Agreement with unlawful consideration: A contract is void if it involves consideration that is illegal or against public policy. For example, an agreement to engage in illegal activities or to harm someone would be void.
- Agreement with inadequate consideration, if inadequacy is not supported by free consent: If one party provides insufficient consideration for a contract, and this inadequacy is not due to a lack of free consent, the contract may be void. For instance, if someone agrees to sell their car for $1, but there is no evidence of coercion or fraud, the contract may be void due to the inadequate consideration.
- Agreement in respect of legal proceedings: Contracts made in relation to ongoing or potential legal proceedings may be void. This is because such agreements may interfere with the administration of justice or undermine the authority of the court.
Based on the given options, the void contract is A: Agreement with unlawful consideration.
It is important to note that void contracts are different from voidable contracts. Voidable contracts are initially valid but can be voided by one of the parties based on certain circumstances, such as fraud or undue influence.
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Which of the following are void contracts?a)Agreement with unlawful co...
Option A is correct because void contract means a contract which ceases to be enforceable by law becomes void when it ceases to be enforceable.
which was right at the beginning but at the end it becomes void.
which was right at the beginning but at the end it becomes void.
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Which of the following are void contracts?a)Agreement with unlawful considerationb)Agreement with inadequate consideration, if inadequacy is not supported by free consent.c)Agreement the meaning of which is certaind)Agreement in respect of legal proceedingsCorrect answer is option 'A'. Can you explain this answer?
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