Other Free Encyclopedias » Law Library - American Law and Legal Information » Great American Court Cases » Contract Law - What Is A Contract?, Sources Of Contract Law: The Statute Of Frauds, The Uniform Commercial Code

Contract Law - Void And Voidable Contracts

agreement illegal parties valid

The term "void contract" is an oxymoron--a contract held to be void does not exist under law. In other words, although two parties may have come to an agreement, it is not recognized as a legal contract. Perhaps the simplest example of a void contract is a contract formed in which one party agrees to perform an illegal act. A contract that is illegal in part may be void in that respect, however, it is still a valid contract if the deletion of the illegal portion of the contract does not defeat the purpose of the broader agreement. Agreements in which an essential feature of a valid contract is lacking, are void contracts as well. Voidable contracts are contracts that may be canceled by one of the two parties involved. A contract may be voidable for various reasons, but in most cases a voidable contract provides for one of the parties to withdraw from the agreement without penalty.

Contract Law - Enforceable And Unenforceable Contracts [next] [back] Contract Law - Express And Implied Contracts

User Comments

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or

Vote down Vote up

over 3 years ago

waxaaa laga maarmana in la duqeeyo dowlada somaalai