Difference between void agreement and voidable agreement?
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Answer:
Difference Between Void Contract and Voidable Contract. ... Void Contract, implies a contract which lacks enforceability by law, whereas Voidable Contract, alludes to a contract wherein one party has the right to enforce or rescind the contract, i.e. the party has to right to put the contract to end.
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Answer:
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Explanation:
When dealing with contracts, the terms "void" and "voidable" are often confused. Even though these two contract types seem similar, they are actually completely different.
A contract that is "void" cannot be enforced by either party., The law treats a void contract as if it had never been formed. A contract will be considered void, for example, when it requires one party to perform an act that is impossible or illegal.
A "voidable" contract, on the other hand, is a valid contract and can be enforced. Usually, only one party is bound to the contract terms in a voidable contract. The unbound party is allowed to cancel the contract, which makes the contract void.
The main difference between the two is that a void contract cannot be performed under the law, while a voidable contract can still be performed, although the unbound party to the contract can choose to void it before the other party performs.
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