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Voidable ContractIntroductionContract is a legal agreement which binds the parties to act in such a manner that meets thepredetermined objectives. Moreover, in order to make the contract legal and valid in the eyes oflaw then there should be free consent of both the parties. In the absence of free consent anycontract becomes invalid in the court of law. Most importantly, court of law only admits thevalid and legal contract. Person can knock the door of the court only if contract is legal and valid.ContractThere is lot of confusion between the term contract and agreement. Some people consider both asa same but actually they are not the same. All contract are agreement but all agreement are notcontract. Only valid agreement are contract.Contract is a verbal or might be written agreement between parties. In simple language contractcan be defined as a legal agreement between two or more parties. Contract is a type of legalpromise which is enforceable in the court of law. In contract one party made an offer to anotherparty and another party accepts it. If in case another party did not accepted the offer made by theother party then it cannot be enforceable under court of law. Contract is a legally enforceable it isbecause its meets the essential requirements and approval of the law. Moreover, definition of acontract highlight that it is an agreement between two or more parties to do something. It is tonotify that while making any contract or while entering into any contract both the parties shouldanalyze the essential of valid contract. If parties found that some of the elements of valid contractis missing then they should try to resolve that particular issue by mutual consent in order to maketheir contract and agreement valid.Voidable ContractAn agreement that is legitimate yet that can be pronounced invalid in line with one of thegatherings as a result of a deformity or illicitness in making it. For instance, on the off chancethat one gathering made a false deception on which the other party depended in making theagreement, the agreement will be implemented against the distorting party yet the other partymay look for alleviation by choosing for void the agreement. Voidable contract is a type ofcontract which is legal and valid. However, in case voidable contract only one party can exercise
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