Introduction to Void and Voidable Contracts
Void and voidable contracts are distinct in their legal implications. Understanding these differences helps in managing contractual relationships.
Void Contracts in Indian Law
- Definition: A contract that is not enforceable by law.
- Examples: Agreements without consideration, illegal agreements.
- Legal Implications: No legal rights or obligations arise from a void contract.
Voidable Contracts in Indian Law
- Definition: A contract that is enforceable at the option of one party.
- Examples: Contracts signed under coercion, undue influence, or fraud.
- Legal Remedies: The aggrieved party can choose to enforce or rescind the contract.
Case Laws on Void and Voidable Contracts
- Mohori Bibee v. Dharmodas Ghose: Discussed the concept of void contracts due to lack of capacity.
- Ranganayakamma v. Alwar Setti: Highlighted voidable contracts due to coercion.
Conclusion
Understanding void and voidable contracts is essential for legal compliance and effective contract management.
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