Given that the provisions concerning voidable
marriages were not
(136) In the typical scenario, if the court in a UVTA state determines that a voidable
transaction has occurred, then the creditor would seek to enforce that judgment in the DAPT state.
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.
Mistake could further render a contract voidable
(if induced by misrepresentation), or void (if it is reasonable and material, in accordance with the iustus error doctrine).
The void versus voidable
distinction has had appeal across a number of jurisdictions, but it has sometimes led to confusing and inconsistent results.
Other topics advisors should know about include fraudulent transfers and voidable
transactions, exemption planning as it relates to state and federal laws, an overview of select offshore trust jurisdictions, including the Cook Islands, Cayman Islands, Belize and a number of Caribbean nations, among others.
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
contractual duties until the beginning of the day before
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." (81) A party holding a voidable
contract would be able to assess the worth of the continued performance of that contract and decide whether it makes economic sense to hold the other party to his end of the bargain.
An agreement enforceable by law at the option of one or more parties, but put at the option of the others, is 'voidable
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.
When the original obligation results from a voidable
contract, the novation is only valid if the new obligation has been assumed both with a view to confirming the contract and to replacing the original obligation.