Void contracts, Business Law and Ethics

Void Contracts - Law of Contract

However these are contracts which the law treats as non-existent.  Thus as a general rule illegal contract is only void although not certain rights may be salvaged through the innocent party.  But a contract may be rendered through statute or at common law as i.e. courts of law.

Contracts void by the statute

Wagering contract

Moreover this is a contract whereby two persons or groups of persons with different views at the outcome of an uncertain future event agree such some consideration is to pass depending at the outcome.

Contracts void at common law

However these are contracts declared void through courts of law for being contrary for public policy namely

  1. Contract of the courts and
  2. Contract prejudicial to the statute of marriage and last
  3. Contracts in restraint of trade
Posted Date: 1/22/2013 4:21:35 AM | Location : United States







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