Law
This query is : Resolved
15 September 2014
how to distinguish between void agreement and void contract?
15 September 2014
Difference is same which is between an Agreement and a Contract. Rest same.
Voidable Contract :
1. A voidable contract is a valid contract till it is rejected.
2. A voidable contract is not void ab-initio and its defects can be removed.
3. In a voidable contract a third party who buys goods in good faith and for consideration before the contract is rejected, acquires rights.
4. In a voidable contract, a person is entitled to compensation for loss arising due to non performance of the contract.
5. A collateral agreement to a voidable contract is not a void contract.
6. It may become a valid contract if the aggrieved party does not reject it within a reasonable time.
7. It is voidable because the consent of a party is not free.
Voidable Contract :
1. A voidable contract is a valid contract till it is rejected.
2. A voidable contract is not void ab-initio and its defects can be removed.
3. In a voidable contract a third party who buys goods in good faith and for consideration before the contract is rejected, acquires rights.
4. In a voidable contract, a person is entitled to compensation for loss arising due to non performance of the contract.
5. A collateral agreement to a voidable contract is not a void contract.
6. It may become a valid contract if the aggrieved party does not reject it within a reasonable time.
7. It is voidable because the consent of a party is not free.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
