When it comes to contracts, there are various types that individuals must become familiar with in order to avoid any potential legal disputes. One type of contract that individuals may come across is a voidable contract. Voidable contracts are contracts that can be invalidated by one party due to a legal defect in the agreement. However, it is important to note that a voidable contract is not always unenforceable.
A voidable contract is a contract that is initially considered to be valid, but one party has the option to void or cancel the contract due to a legal defect. Some common legal defects that can make a contract voidable include misrepresentation, duress, undue influence, mistake, or fraud. For example, if a person is coerced into signing a contract, the contract may be considered voidable.
The party who has the option to void the contract can choose to either cancel the contract or continue to adhere to its terms. If the party chooses to continue with the contract, the contract becomes enforceable. However, if the party decides to void the contract, the contract becomes unenforceable.
It is important to note that just because a contract is voidable does not mean it is always unenforceable. In certain circumstances, a voidable contract may still be enforceable. For example, if a contract is voidable due to a mistake made by one party, but the other party was not aware of the mistake and would suffer an injustice if the contract were voided, the contract may still be enforced.
It is crucial to seek legal advice when dealing with voidable contracts to ensure that both parties are aware of their rights and obligations. An experienced attorney can help determine the validity of a contract and advise on the best course of action should a voidable contract be in question.
In conclusion, a voidable contract is not necessarily unenforceable. While a legal defect may render a contract voidable, parties may still choose to adhere to its terms, rendering it enforceable. It is important to seek legal advice when dealing with voidable contracts to avoid any potential legal disputes.