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:
“The mind cannot support moral chaos for long. Men are under as strong a compulsion to invent an ethical setting for their behavior as spiders are to weave themselves webs.”
—John Dos Passos (18961970)
“A contract for better for worse is a contract that should not be tolerated.”
—George Bernard Shaw (18561950)