Setting Aside The Contract
There can be four different ways in which contracts can be set aside. A contract may be deemed 'void', 'voidable', 'unenforceable'or 'ineffective'. Voidness implies that a contract never came into existence. Voidability implies that one or both parties may declare a contract ineffective at their wish. Unenforceability implies that neither party may have recourse to a court for a remedy. Ineffectiveness implies that the contract terminates by order of a court where a public body has failed to satisfy public procurement law. To rescind is to set aside or unmake a contract.
Read more about this topic: Contract
Famous quotes containing the words setting and/or contract:
“The trees stand in the setting sun,
I in their freckled shade
Regard the cavalcade of sin,
Remorse for foolish action done,
That pass like ghosts regardless, in
A human image made....”
—Philip Larkin (1922–1986)
“Any intelligent woman who reads the marriage contract and then goes into it, deserves all the consequences.”
—Isadora Duncan (1878–1927)