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For instance, if a contract is formed between two parties A & B but during the performance of the contract the object of the contract becomes impossible to achieve (due to action by someone or something other than the contracting parties), then the contract cannot be enforced in the court of law and is thus void. [3] A void contract can be one ...
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.
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]
A contract made by a minor is often voidable, but a minor can only avoid a contract during his or her minority status and for a reasonable time after he reaches the age of majority. After a reasonable period of time, the contract is deemed to be ratified and cannot be avoided. [2] Other examples would be real estate contracts, lawyer contracts ...
The act of invalidating the contract by the party exercising its rights to annul the voidable contract is usually referred to either as voiding the contract (in the United States and Canada) or avoiding the contract (in the United Kingdom, Australia and other common law countries). Black's Law Dictionary (relevant to US law) defines voidable as ...
Following Nordenfelt restraint of trade clauses were prima facie void at common law, but they may be deemed valid if three conditions are met: the terms seek to protect a legitimate interest; the terms are reasonable in scope from the viewpoint of the parties involved; the terms are reasonable in scope from the viewpoint of public policy.
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Magna Alloys & Research (S.A.) (Pty) Ltd. v Ellis [1] is an important case in South African law, particularly contract. It established the principle that a restraint of trade is enforceable unless the court is convinced that it is unreasonable. the leading case on restraint of trade is Magna Alloys and Research ( SA) (PTY) Ltd Vs Ellis 1984 (4 ...