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Void and Voidable

  • 14-05-2010 6:40pm
    #1
    XxMCRxBabyxX
    Moderators, Education Moderators Posts: 7,441 Mod ✭✭✭✭


    Serious confusion here!:
    What's the difference between a Void contract and a Voidable Contract?


Comments

  • #2
    NoQuarter
    Registered Users, Registered Users 2 Posts: 4,632 ✭✭✭NoQuarter


    Void contract means from whatever incident happened the contrals iis null and void. Done and dusted.

    Voidable usually means the contract is liable to be voided, usually at the discretion of the court.


    In summary:

    Void = Void

    Voidable = Can be void


  • #3
    NatWW
    Closed Accounts Posts: 36 ✭NatWW


    A void contract is a contract that is null and void but is also deemed never to have existed. The situation goes back to where it was before entering the contract and the contract never existed in the eyes of the law.

    A voidable contract is a contract that is voided but is still recognised as having existed in the eyes of the law.

    So, one is deemed never to have existed at all, thats the main difference here.


  • #4
    crosbie
    Registered Users, Registered Users 2 Posts: 228 ✭✭crosbie


    NatWW wrote: »
    A void contract is a contract that is null and void but is also deemed never to have existed. The situation goes back to where it was before entering the contract and the contract never existed in the eyes of the law.

    A voidable contract is a contract that is voided but is still recognised as having existed in the eyes of the law.

    So, one is deemed never to have existed at all, thats the main difference here.

    Slightly incorrect:

    Void ab initio - contract is set aside as if it has never existed in the first place.

    Void - the contract is terminated upon a specific event having occurred, for example. All rights and obligations accrued to that point still stand.

    Voidable - no automatic termination but the contract may be deemed void at the instance of one or both of the contractual parties.

    Hope this helps
    TTFn


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