A voidable contract, unlike a void contract, is a valid contract. At most, one party to the contract is bound. The unbound party may repudiate the contract, at which time the contract is void.
As per Section 2(i), " An agreement which is enforceable by law at the option of one or more parties but not at the option of the other or others is a Voidable Contract."
As per section 15-13 "A contract become voidable when the consent of one or more of the parties to a contract is obtained by coercion, undue influence, misrepresentation or fraud an agreement which is enforceable by law at the option of one or more parties but not at the option of the other or others is a voidable contract.
- See also:
- voidable generally
- void contract
- unenforceable
Famous quotes containing the word contract:
“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.”
—Dalton Trumbo (1905–1976)