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 ?
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.
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." (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 contract'.
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.