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Black's Law Dictionary defines 'void' as "[n]ull; ineffectual; nugatory; having no legal force or binding effect...." [1] In the case of a contract, this means there is no legal obligation, therefore there can be no breach of contract since the contract is null, but there may be an implied contract which requires the recipient of goods or services provided to pay their reasonable value.
However, when a contract is being written and signed, there is no automatic mechanism available in every situation that can be utilized to detect the validity or enforceability of that contract. Practically, a contract can be declared to be void by a court of law. [1] An agreement to carry out an illegal act is an example of a void agreement.
Mistake of law is when a party enters into a contract without the knowledge of the law in the country. The contract is affected by such mistakes, but it is not void. The reason here is that ignorance of law is not an excuse. However, if a party is induced to enter into a contract by the mistake of law then such a contract is not valid. [3]
But no power short of the general law ought to restrain his free discretion. A contractual undertaking not to trade is void and unenforceable against the promisor as contrary to the public policy of promoting trade, unless the restraint of trade is reasonable to protect the interest of the purchaser of a business. [2]
Rescission at common law (as distinct from rescission in equity) is a self-help remedy: historically, the common law courts simply gave effect to the rescinding party's unequivocal election to rescind the contract. Rescission at common law is only available for fraudulent misrepresentations and duress. Rescission renders the contract void ab ...
Nigeria’s Supreme Court refused Thursday to void the recent election of President Bola Tinubu and dismissed the political opposition's challenges, which argued that the vote was flawed and that ...
When a contract is entered into without the free consent of the party, it is considered a voidable contract. The definition of the act states that a voidable contract is enforceable by law at the option of one or more parties but not at option of the other parties. A voidable contract may be considered valid if it is not cancelled by the ...
"Contracts" The Conflict of Laws. Second Edition. Stevens and Sons. 1980. Chapter 13. Page 209 et seq. Dicey. "Contracts: General Rules" and "Particular Contracts". A Digest of the Law of England with Reference to the Conflict of Laws. London. 1896. Chapters 24 and 25. Page 540 et seq. Joseph Story and Isaac F Redfield. "Foreign Contracts".