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A void contract means:
- a)An agreement which is not enforceable by law
- b)A contract which ceases to be enforceable by law
- c)An agreement which creates liability for punishment
- d)A contract which is enforceable at the option of an aggrieved party
Correct answer is option 'B'. Can you explain this answer?
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A void contract means:a)An agreement which is not enforceable by lawb)...
Explanation:
A void contract is a contract that is not legally enforceable and is considered to be null and void from the beginning. It is different from a voidable contract, which is a contract that is enforceable, but may be voided by one of the parties for certain reasons.
The following are the reasons why a contract may be considered void:
1. Lack of capacity: If one or both parties lack the capacity to enter into a contract, it may be considered void. For example, if one of the parties is a minor or mentally incapacitated, the contract may be void.
2. Illegality: If the subject matter of the contract is illegal, then the contract may be void. For example, a contract to sell drugs or engage in illegal activities would be considered void.
3. Mistake: If both parties are mistaken about a material fact related to the contract, the contract may be void. For example, if the contract is for the sale of a painting that both parties believe to be authentic, but is later discovered to be a forgery, the contract may be void.
4. Fraud: If one of the parties engages in fraud, such as misrepresenting a material fact, the contract may be void.
5. Duress: If one of the parties is forced to enter into the contract under duress, such as the threat of physical harm, the contract may be void.
Therefore, a void contract is one that has ceased to be enforceable by law from the beginning due to one of the reasons mentioned above.
A void contract is a contract that is not legally enforceable and is considered to be null and void from the beginning. It is different from a voidable contract, which is a contract that is enforceable, but may be voided by one of the parties for certain reasons.
The following are the reasons why a contract may be considered void:
1. Lack of capacity: If one or both parties lack the capacity to enter into a contract, it may be considered void. For example, if one of the parties is a minor or mentally incapacitated, the contract may be void.
2. Illegality: If the subject matter of the contract is illegal, then the contract may be void. For example, a contract to sell drugs or engage in illegal activities would be considered void.
3. Mistake: If both parties are mistaken about a material fact related to the contract, the contract may be void. For example, if the contract is for the sale of a painting that both parties believe to be authentic, but is later discovered to be a forgery, the contract may be void.
4. Fraud: If one of the parties engages in fraud, such as misrepresenting a material fact, the contract may be void.
5. Duress: If one of the parties is forced to enter into the contract under duress, such as the threat of physical harm, the contract may be void.
Therefore, a void contract is one that has ceased to be enforceable by law from the beginning due to one of the reasons mentioned above.
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A void contract means:a)An agreement which is not enforceable by lawb)...
Void agreement is smthn which is void at the very beggining..but a void contract.. is smthn which is valid at the time of contract but becomes void due to changes in law etc..so it ceases to be enforceable
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A void contract means:a)An agreement which is not enforceable by lawb)A contract which ceases to be enforceable by lawc)An agreement which creates liability for punishmentd)A contract which is enforceable at the option of an aggrieved partyCorrect answer is option 'B'. Can you explain this answer?
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