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May 22, 2024 · A voidable contract is one that can be canceled or altered for qualified legal reasons. Not all contracts are voidable; legal precedent must exist to absolve responsibility.
The meaning of VOIDABLE is capable of being voided; specifically : capable of being adjudged void. How to use voidable in a sentence.
Void and voidable are two legal terms that are often used in contract law to describe the status of a contract. A void contract is one that is not legally binding from the outset, while a voidable contract is one that is initially valid but can be voided by one of the parties involved.
Void Contract, implies a contract which lacks enforceability by law, whereas Voidable Contract, alludes to a contract wherein one party has the right to enforce or rescind the contract, i.e. the party has to right to put the contract to end.
In contracts, voidable is a term typically used with respect to a contract that is valid and binding unless avoided or declared void by a party to the contract who is legitimately exercising a power to avoid the contractual obligations.
2 meanings: 1. capable of being voided 2. capable of being made of no legal effect or made void.... Click for more definitions.
What is a Voidable Contract? 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.
Define voidable. voidable synonyms, voidable pronunciation, voidable translation, English dictionary definition of voidable. adj. Capable of being voided and especially annulled: voidable contracts. void′a·ble·ness n.
Voidable definition: capable of being nullified or invalidated.. See examples of VOIDABLE used in a sentence.
noun. Able to be later voided or nullified; a valid act that may achieve what its purpose was until its fatal flaw is discovered or takes effect and causes it to be voided. For example, a minor may enter into an agreement with a book club and not buy the number of books she contracts to.
