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.
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Famous quotes containing the words setting and/or contract:
“Dandyism is the last flicker of heroism in decadent ages.... Dandyism is a setting sun; like the declining star, it is magnificent, without heat and full of melancholy. But alas! the rising tide of democracy, which spreads everywhere and reduces everything to the same level, is daily carrying away these last champions of human pride, and submerging, in the waters of oblivion, the last traces of these remarkable myrmidons.”
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