3 Types of Contract Voidable 4. Oktober 2021
Veröffentlicht von lachs0r in : Allgemein , kommentare geschlossen
As a professional, I have put together an informative article on the topic of „3 types of contract voidable“. In legal terms, a voidable contract is a contract that is valid but can be annulled or cancelled by one of the parties involved. Voidable contracts typically involve one party being at a disadvantage or being coerced into agreeing to the terms of the contract. Here are the three most common types of voidable contracts:
1. Contracts signed by minors
In most jurisdictions, persons under the age of 18 are considered minors and are not legally capable of entering into contracts. In such cases, any agreement that they enter into can be considered voidable. This means that the minor can choose to either void the contract or choose to accept the terms of the agreement after reaching the legal age of majority. It is important to note that there are some exceptions to this rule, such as in cases where the contract is related to necessities like food, clothing, or shelter.
2. Contracts signed under duress
Duress refers to a situation where one party is forced into signing a contract against their will. This can include threats made against an individual or physical harm being inflicted upon them. In such cases, the contract is considered voidable and can be cancelled by the coerced party. It is important to note that duress must be proven in order to void a contract, and it may be difficult to do so without sufficient evidence.
3. Contracts signed under fraudulent misrepresentation
Fraudulent misrepresentation refers to a situation where one party deliberately provides false information to the other in order to secure a contract. For example, if a company knowingly misrepresents the quality or value of a product in order to secure a sale, the contract is considered voidable. The party who was deceived has the option of voiding the contract, pursuing legal action, or accepting the terms of the agreement.
In conclusion, contracts that are voidable are valid but can be cancelled by one of the parties involved. The three most common types of voidable contracts include contracts signed by minors, contracts signed under duress, and contracts signed under fraudulent misrepresentation. As always, it is important to consult with a legal professional if you believe that a contract you have entered into is voidable.
