PRESENTERNAME

SADIR HUSSAIN BANGASH

PRESENTATION

DIFFERENCE BETWEEN VOID AGREEMENT

&VOID CONTRACT

VOID AGREEMENT

A void agreement has no legal bearing, and is unenforceable by law. Parties to a voided agreement have no responsibility or legal requirement to act as far as carrying out the terms of the agreement

VOID CONTRACT

Void contracts are contracts that are legally valid agreements between two parties.

Void Agreements or Contracts

A void agreement, or void contract, is a contract that is not truly a contract. It may have been made under duress as an agreement to commit an illegal action or as a contract to perform an impossible duty.

Legal Differences

A void contract is a nonexistent and illegal contract that cannot be upheld by law; neither party is bound to complete the contract and can be prosecuted if any completed actions are illegal.

Significance

Void contracts may be a cause for lawsuits or jail time depending on the context of the agreement and whether or not action was taken.

Considerations

Knowing the basics of contract law can help an individual recognize a situation where a contract may be void or voidable. Understand the difference between those types of contracts before engaging in legal agreement