"Distinction between void and Voidable Contract"
Distinction between Void and Voidable Contract Brief Notes (Conceptual) Moughera Waqas Terms used in this Essay Offerror/Proposer the person who offers something or some work etc. Offeree the person to whom something or work is offered. Promisor the person who promises to give, pay or do something. Promise the person to whom the promise is made. Acceptor the person who accepts the promise Consideration what ever is given in return of something (a house in return of money, money in return of a house) Void Contract Voidable Contract It is not enforceable by law It is enforceable by law on the option of one or more of the parties, but not at the option of the others It is not performable by either of the parties The performance of a voidable contract is possible It cannot become a voidable contract Voidable can become a void contract A void contract is not enforceable by the court It is enforceable at the option of the aggrieved of law party Because it does not has any capacity of The aggrieved party can claim the performance thus also does not has the compensation compensation capacity Any party has the right to object on a void Only the aggrieved party has the right to the contract objection It is void at the very beginning It is a valid contract until or unless it is avoided The collateral agreement and contract also It does not affect the collateral agreement becomes void due to illegal objective Disclaimer: These Notes present just the concepts. Errors and omissions are acceptable. This paper should not be used in making any reference to the original text. This paper was prepared for personal notes. For more and further detailed discussion on any of the topics. Please feel free to ask from MOUGHERA@GMAIL.COM . As I don’t get much time to reply all the e-mails in time or on time, but I reply to all of them. You can also avail the notes, term papers and the class discussion papers as well. You can request for the notes and the papers at the preceding e-mail address. You can ask questions, comment and query on the subjects of Law, Audit, Economics, Business Communication.