voidable


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Voidable

Describing a contract that comes into force, but which a court may or is likely to nullify it before its completion. A voidable contract may (but does not necessarily) violate the law. See also: Rescission.

voidable

Capable of being set aside and rendered not enforceable, but not inherently without legal effect. Contracts made by minor children are voidable when they reach the age of majority, but are not automatically void. Contrast with void.

References in periodicals archive ?
See Voidable Transactions Act Amendments (2014)--Formerly Fraudulent Transfer Act, UNIFORM LAW COMMISSION, http://www.
If the voidable debt issue in Puerto Rico was a singular occurrence, it could be written off as an honest mistake made by an ailing commonwealth.
the appellants' submissions that 'the words "may only be made" in s 588FF(3) as indicating a limited scope for the power under para (b)' is incorrect, and rather it was held that the only operation of those words was to 'impose a requirement as to time as an essential condition of the right conferred by s 588F(1) to bring proceedings for orders with respect to voidable transactions.
Although not material, and therefore not excluding consensus, such an error does affect the quality of the consensus, rendering the contract voidable.
A creditor that puts the most pressure on a debtor will most likely receive their money before others; however, they need to be conscious of the voidable transaction regime when they are dealing with an insolvent company.
In construction and engineering contracts most people are familiar with the concept that the contract may be terminated, less commonly the question arises as to whether the contract may be void or voidable.
only voidable contractual duties until the beginning of the day before
A voidable contract is one where one or more parties have the power, by a manifestation of election to do so, to avoid the legal relations created by the contract, or by ratification of the contract to extinguish the power of avoidance.
It is notable that the prevalence of likely non-binding, voidable, yet nonetheless mandatory contracts within children's titles has attracted so little discussion to date.
Expressing his observation on the status of legitimacy of a child out of the live in relationship, he said that under the Hindu Marriage Act Amendment of 1976, it has been described that whether the marriage is void or voidable, the child will always be a legal entity.