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valid contract is one which satisfies all the condition of contract.on the other hand void contract is one which ceases to be enforceable by law.
Wiki User
∙ 6y ago
A valid contract is legally enforceable and meets all the essential elements required by law, such as mutual assent, consideration, capacity, legality, and proper form. On the other hand, a void contract is not legally binding from the beginning due to a fundamental flaw, such as illegality, lack of capacity, impossibility, or violation of public policy. A void contract is treated as if it never existed, while a valid contract creates legal obligations between the parties.
Wiki User
∙ 11y agoa valid contract
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Can an individual be held legally responsible for debts that occured when they were a minor?
In general, minors are not legally responsible for debts they incurred while under the age of majority. However, once they reach the age of majority, they may be held responsible for those debts if they affirm or continue to make payments on them.
Is a contract valid if one of its terms breaks the law Why or why not?
If a contract includes terms that are illegal, that particular term would be considered void and unenforceable. However, the rest of the contract may still be valid if the illegal term can be separated without affecting the overall agreement. It is important to ensure that contracts comply with the law to maintain their validity.
What is the difference between a covenant and a condition?
A covenant is a promise or agreement between parties, typically involving specific obligations or commitments. A condition, on the other hand, is a requirement or provision that must be satisfied in order for a contract or agreement to be valid or enforceable. In essence, a covenant outlines what parties will do, while a condition specifies what must happen for the agreement to take effect.
If a minor signed acontract he parents are responsible?
If a minor signs a contract under the legal age of majority (usually 18), the contract is typically not enforceable. In most cases, the parents would not be responsible for the contract unless they co-signed or guaranteed it. The minor may have the option to void the contract.
If you had a contract with a financial institution and they went bankrupt is the contract void?
If a financial institution goes bankrupt, your contract with them may not necessarily be void. The terms of the contract, bankruptcy laws, and court decisions will determine how the contract is treated during the bankruptcy process. It is advisable to consult with a legal professional for guidance on how to proceed in such a situation.
What is the difference between a void contract and a unenforcable contract?
Void contracts and unenforceable contracts are often used interchangeably. A void contract is not valid and therefore unenforceable. An unenforceable contract may be valid, but can not, for a number of reasons, be lawfully enforced.
What is the difference between a void contract and an unenforceable contract?
Void contracts and unenforceable contracts are often used interchangeably. A void contract is not valid and therefore unenforceable. An unenforceable contract may be valid, but can not, for a number of reasons, be lawfully enforced.
What is the difference between a void contract and unenforceable contract?
Void contracts and unenforceable contracts are often used interchangeably. A void contract is not valid and therefore unenforceable. An unenforceable contract may be valid, but can not, for a number of reasons, be lawfully enforced.
Distinguish between void and illegal contracts?
The main difference between a void contract and an illegal contract is that a void contract is no longer valid. It's lost its authenticity. An illegal contract is a contract that is not legal in the name of law. Therefore, it is not relevant.
How can misrepresentation affect a valid contract?
When someone is induced into entering into a contract as a result of a false statement.
What are difference between void contract and illegal contract?
void contracts are contracts that technically don't exist mainly due to duress while an unenforceable contracts are contracts that can not be enforced
What is the difference between illegal contracts and void contracts?
A void contract may have been valid at one time, whereas an illegal contract is never valid unless a law making the contract illegal is passed while the contract is still in effect. So, an illegal contract is void, but a void contract is not typically an illegal contract.
Difference between void agreement and void contract?
1. An agreement which is not enforceable by law by either of the parties is void agreement .Whereas, an agreement which was legally enforceable when entered into but which has become void due to supervening impossibility of performance. 2.For example:All domestic and social agreements can never create any legal rights and obligations. Also, an agreement without consideration or with minor is void agreement. A contract b/w a citizen of Pakistan and India is valid contract during peace but if war breaks out b/w both, the agreement will become void contract.
What is the Difference between void contracts and voidable contracts?
A void contract is one that has no effect due to some fundamental defect. Generally no property can pass under a void contract. Contracts contrary to public policy, for example, to restrain another from pursuing their business, are usually void. A voidable contract on the other hand, is a valid contract but the law gives one party an option whether or not to proceed with the agreement. For instance, there may be misrepresentation which allows the innocent party to make certain choices, thus a contract declared voidable. • •
Is a contract void if others are added later?
It is my understanding, that the most recently dated WRITTEN CONTRACT is the Valid one.
What is the differences between valid void voidable contract with examples?
Type your answer here... A marriage which fulfills all the condition laid down in Islamic law is called valid marriage. A marriage which can't be legalized in any circumstancees is called void marriage.
What happens if you sign a contract with a minor and didn't know?
The minor can void the contract. If they affirm it after they become an adult, it would become valid.
