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Voidable contract[Section 2(i)]: “An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at the option of other or others, is a voidable contract”. However, the contract continues to be good and enforceable unless it is repudiated by the aggrieved party.
May 22, 2024 · A voidable contract is a formal agreement between two parties that may be rendered unenforceable for qualified legal reasons. It is different from a void contract.
May 6, 2022 · Section 2(i) of the Indian Contract Act, 1872 defines voidable agreements as those which are valid as long as one of the parties or both parties can decide to void their agreement. Most cases involving a voidable contract involve a circumstance in which one of the parties did not give their consent.
Jul 15, 2024 · Under the Indian Contract Act, 1872, a void agreement is a type of contract that lacks enforceability from the very beginning. It is deemed as if the contract never existed, and neither party is bound by any of its terms. Section 2 (g) of the Indian Contract Act defines void agreements.
Jul 1, 2024 · Definition: A void agreement is one that is not enforceable by law. It is treated as if it never existed and has no legal effect from the outset. Characteristics: 1. No Legal Effect: A void agreement does not create any legal rights or obligations. 2. Unenforceable: It cannot be enforced by either party involved. 3.
Sep 2, 2021 · Section 2 (g) of the Indian Contract Act defines an agreement as Void. Section 10 of the Act lays down the non-fulfilling conditions to arise such type of agreements.
Jan 10, 2024 · The primary difference between void and voidable contracts is that a void contract can't be legally performed, while a voidable agreement can still be performed, as long as the unbound party doesn't void it prior to performance.
A voidable contract is an agreement between two parties that can be legally canceled by one or both parties under certain conditions. The rationale behind voidable contracts is to allow courts to weigh the fairness of a contract based on the circumstances under which it was made.
Dec 31, 2019 · Introduction. Contracts and agreements are by far the most widely used legal devices and to some extent also govern most of our social relationships. However, those agreements which are legally enforceable can be termed as contracts whilst those which are unenforceable by law are called void agreements.
Oct 3, 2024 · A voidable contract, on the other hand, is a valid contract that one or both parties may choose to void under certain circumstances. Unlike a void contract, a voidable contract is legally enforceable until one party decides to void it.
