What are the differences between a void contract and a voidable contract? Provide examples. Which party or parties to a voidable contract have the right to disaffirm the contract? Can written agreements be modified orally? Explain why or why not.
A void contract is a contract that does not meet all the elements of contract. If the contract does not meet all the elements it cannot be enforced by either party, in essence the contract never becomes valid. An example of a void contract is a customer at a restaurant orders a beer. When the waiter brings the beer he asks for ID and finds the customer is under the legal age to purchase alcohol. The waiter removes the beer and the contract is void. In contrast the voidable contract is a contract that may become valid, but one party has the...
Excerpt from file: Whatarethedifferencesbetweenavoidcontractandavoidablecontract?Provideexamples. Whichpartyorpartiestoavoidablecontracthavetherighttodisaffirmthecontract?Can writtenagreementsbemodifiedorally?Explainwhyorwhynot. Avoidcontractisacontractthatdoesnotmeetalltheelementsofcontract.Ifthecontract...
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