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Different between void and voidable?
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Different between void and voidable?
Different between void and voidable contracts:Void contracts are unenforceable by law. Even if one party breaches the agreement, you cannot recover anything because essentially there was no valid contract. Some examples of void contracts include:1. Contracts involving an illegal subject matter such as gambling, prostitution, or committing a crime.2. Contracts entered into by someone not mentally competent (mental illness or minors).3. Contracts that require performing something impossible or depends on an impossible event happening.4. Contracts that are against public policy because they are too unfair.5. Contracts that restrain certain activities (right to choose who to marry, restraining legal proceedings, the right to work for a living, etc.).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:1. Contracts entered into when one party was a minor. (The law often treats minors as though they do not have the capacity to enter a contract. As a result, a minor can walk away from a contract at any time.)2. Contracts where one party was forced or tricked into entering it.3. Contracts entered when one party was incapacitated (drunk, insane, delusional).
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Different between void and voidable?
Voidable contract can be valid or void depending upon the aggrieved party. Whereas void contract cannot be carried on further. Eg. contract with minor is void ab initio- (from the beginning)
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Different between void and voidable?
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Different between void and voidable? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Different between void and voidable? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Different between void and voidable?.
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