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:
“We don’t arrive at it by standing on one leg or on the first day of our setting out—but though we may jostle one another on the way that is no reason why we should strike or trample—elbowing’s enough.”
—George Gordon Noel Byron (1788–1824)
“A good businessman never makes a contract unless he’s sure he can carry it through, yet every fool on earth is perfectly willing to sign a marriage contract without considering whether he can live up to it or not.”
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