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Typical grounds for a contract being voidable include coercion, undue influence, mental incompetence, intoxication, misrepresentation or fraud. [1] 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.
A void agreement is void ab initio, i e from the beginning while a voidable contract can be voidable by one or all of the parties. A voidable contract is not void ab initio, rather, it becomes void later due to some changes in condition. In sum, there is no scope of any discretion on the part of the contracting parties in a void agreement.
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 ...
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]
First, where a party to a contract exercises an express right of termination, he or she is sometimes said to have exercised a right to rescind the contract. Secondly, where a party is faced with a repudiation, the party can elect to terminate the contract; this too has often been referred to as an election to rescind. "Rescission" at common law.
Additionally, a contract is void ab initio if its cause, object, or purpose is contrary to law, morals, good customs, public order or public policy; it is absolutely simulated or fictitious; its cause or object did not exist when it was concluded, is impossible, or is "outside the commerce of men"; the intention of the parties cannot be ...
A contract made inter praesentes occurs when the parties meet face-to-face. Cases: Phillips v Brooks [1919] 2 KB 243; In a contract was made face to face, the court presumed that the seller intended to contract with the person in front of them, so the contract was not void for mistake to identity. Ingram v Little [1961] 1 QB 31
The term void ab initio, which means "to be treated as invalid from the outset", comes from adding the Latin phrase ab initio (from the beginning) as a qualifier. For example, in many jurisdictions where a person signs a contract under duress, that contract is treated as being void ab initio. The frequent combination "null and void" is a legal ...
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