Can anyone differentiate between void, voidable and illegal aggremenmts.Pl give examples.
Can there be a void contract?
Thanx
Menu
void, voidable and illegal aggrements
Replies (18)
agreement with minor is void contract, some agreements are voidable at the option of a party though not void, an agreement which is being entered with an intention to do illegal act such as smuglling/murder etc... are illegal agreements. Illegal agreemens are not recognised by law. For further details please refer to the definitons given in Indian Contract Act.
Thank you sir for instant response. Can you further clarify my following doubt:
I want to know is there any difference between vaidable agreements and voidable conntracts. Similarly illegal agreements and illegal contracts. If so , what is the defference.
murulidhara
I want to know is there any difference between vaidable agreements and voidable conntracts. Similarly illegal agreements and illegal contracts. If so , what is the defference.
murulidhara
I want to know is there any difference between vaidable aggreements and voidable conntracts. Similarly illegal agreements and illegal contracts. If so , what is the defference.
murulidhara
CONTRACT=AGREEMENT+ENFORCEABLE BY LAW.
WHEN AGREEMENT IS VOIDABLE THEN CONTRACT ALSO VOIDABLE.SO FR VOIDABLE AGREEMENT AND FR VOIDABLR CONTACT NO DIFFERENCIATION.
AND ALSO IF AGREEMENT IS ILLEGAL THEN IT NOT CONVERTED IN TO VALID CONTRACT.SO BOTH BECOME VOIDABLE.
"VOIDABLE CONTRACT MEANS -AN AGREEMENT ENFORCEABLE BY LAW BY ONE PARTY BUT NOT ANOTHER PARTIES."
"ILLEGAL AGRREMENT MEANS -CONTRACT WHICH IS PROHIBITED BY LAW."
WHEN AGREEMENT IS VOIDABLE THEN CONTRACT ALSO VOIDABLE.SO FR VOIDABLE AGREEMENT AND FR VOIDABLR CONTACT NO DIFFERENCIATION.
AND ALSO IF AGREEMENT IS ILLEGAL THEN IT NOT CONVERTED IN TO VALID CONTRACT.SO BOTH BECOME VOIDABLE.
"VOIDABLE CONTRACT MEANS -AN AGREEMENT ENFORCEABLE BY LAW BY ONE PARTY BUT NOT ANOTHER PARTIES."
"ILLEGAL AGRREMENT MEANS -CONTRACT WHICH IS PROHIBITED BY LAW."
HI FRIENDS,
IF ABOVE EXPLANATION IS WRONG PLS CORECT ME.
IF ABOVE EXPLANATION IS WRONG PLS CORECT ME.
Thak you sudha for explanation. In text book I saw both terms ie voaidable agreement and voidable contract and hence this doubt.
Muruli
Sudha it is totally wrong....
First of all agreement can't be voidable... it is contract which is voidable.....so there is no term " voidable agreement "......
If agreement is illegal then it can't become voidable .... it is void ab initio....
But ya ur definitions r correct....
Plz corrct it... i have just give my c.p.t. in feb nd waiting for my result...
Now one more thing... there is difference b/w void contract and void agreement....
Void agreement is void ab initio i.e. it can't be converted into contract.....
Void contract is a contract which was a valid contract at some time but due to some circumtances it becomes void .
for e.g. X promises to marry Y a valid contract . But suddenly X dies so contract becomes void due to change in circumtances....
That's d rite xplanation..
Am i rite ??
ok pulkit thanks fr correcting me.its very help ful to me.
Thank you pulkit for good answers and examples.
Muruli
My pleasure murali
Recent Topic
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
- Reporting STCG on non equity oriented MF
Related Topics
CAclubindia
