0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What are the features of void contract?
Features An agreement made by incompetent parties (Minor/Lunatic Person) is void. Any agreement with a bilateral mistake is void. Agreements which have unlawful consideration is void. Agreement with a unlawful object is void. Agreements made without consideration is void. Agreement in restraint of marriage of any major person is void (absolute restriction). Agreement in restraint of trade is void.(reasonable reason) An agreement the terms of which are uncertain is void. An agreement by way of wager (betting/gambling) is void. An agreement contingent upon the happening of an impossible event is void. Agreement to do impossible acts is void.
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 are the exceptions to the rule that No consideration - No contract?
Section 25 declares that `an agreement made without consideration is void'. It means that consideration is a must in all cases. Exceptions to the rule are: • written and registered agreement out of natural love and affection between the parties; • promise to compensate a person who has voluntarily done something for the promisor; • promise to pay time-barred debt; • completed gift; • creation of agency
What is void agreement?
section2(g) provides, "an agreement not enforceable by law is said to be void" the void agreement does not create legal relations between parties and is void ab-initio(from the beginning).
What is unlawful consideration in contracts?
Section 23The consideration or object of an agreement is lawful, unless- it is forbidden by law 1[ ; or is of such a nature that, if permitted, it would defeat the provisions of any law; or is fraudulent; or involves or implies injury to the person or property of another or; the Court regards it as immoral, or opposed to public policy. In each of these cases, the consideration or object of an agreement is said to be unlawful. Every agreement of which the object or consideration is unlawful is void.
What is consideration according to Indian law?
According to Indian Contract Act, Consideratio is 'When, at the desire of the promisor, the promisee or, any other person, had done or abstained from doing, or does or abstains from doing, or promises to do or, to abstain from doing, something, such act or abstinence or promise is called a consideration for the promise" This could be put simply as ...Consideration is nothing but the price paid by one party for the promise of the other. It can be in the nature of a positive act or the forbearance of a certain act. It can be past, present or future. Thus, consideration forms an essential part of an agreement without which the agreement is void. This is because, in the absence of consideration, there is no legal obligation formed between the parties and, therefore, in such a scenario, they are not bound by the terms of the agreement
What is an agreement that is lacking consideration?
1-barren promises 2-gratuitous promises 3-illusory promises 4-agreement suported by moral consideration 5-agreement supported by past consideration
What is the difference between void and illegal agreements?
A void agreement had a specific event, time and/or start that made the agreement void. You may write a check and it is given back to you with void written on it because of any reason you can think of. A illegal agreement is one that on it's face is not legal, such as you put a contract out on someones pet. That agreement would be illegal from the start so in effect there is no contract.
What is a sentence with the word void?
She had to void the check because the amount was wrong. They asked to void the agreement. When her boyfriend broke up with her, it left a huge void in her life.
What is meaning of nude?
Bare; naked; unclothed; undraped; as, a nude statue., Naked; without consideration; void; as, a nude contract. See Nudum pactum.
Prenuptial agreement between John and Jackie Kennedy?
This agreement was made void with her marriage to Aristotle Onassis in 1968.
A mistake will always render the contract void?
No a mistake does not automatically make a contract void. It may void specific aspects of the agreement. The other terms could be enforced.
