1. Those where one of the parties is incapable of giving consent to a contract;
2. Those where the consent is vitiated by mistake, violence, intimidation, undue influence or fraud.
That contract is voidable in nature
cases of voidable contract
The consequences of rescission of voidable contract is that the other party does not need to perform any promise contained in the contract.
In Georgia, a minor cannot sign a contract. If a minor does sign a contract, it is voidable because it is illegal.
A. Void B. Voidable C. Voiding D. Avoid ANSWER: A Void
Depending on the state of contract, a mistake on the VIN may or may not be voidable. Under old laws, a mistake on a VIN can cause a contract to be voidable.
A contract that can be voided. It is a valid contract unless the party with the ability to void it does so. Examples of those that can create voidable contracts are minors, mentally disabled persons, or an intoxicated person.
A contract that existed but is now no longer in effect. Legal obligations under a contract can be avoided.
Their binding force,,, rescissible contract renders it defective due to external facts that may prejudice a contracting party or even a third person. While voidable contract becomes defective due to the vice of consent :)
If it can be proven that the signatory was intoxicated at the time, the contract would be voidable.
Yes: It is a valid contract in the beginning but subsequently it changes into voidable contract due to some uncertain reasons. For example; A person do contract to B person that he will give some garments importing from London and the B accepts it, after it in the way some thing happen and the product is destroyed then a valid contract will be change in a voidable contract.
A unilateral contract is a legally binding agreement in which only one party makes a promise or undertakes an obligation, while the other party has the option to accept or reject it. If the second party chooses not to accept the terms of the contract, they are generally not bound by its terms.