Valid Contract |.Void Contract | Voidable Contract | Valid, Void & Voidable Contract with Examples

Valid Contract |.Void Contract | Voidable Contract | Valid, Void & Voidable Contract with Examples |
Difference between Valid Void and Voidable contract | indian contract act 1872
🔴 Valid Contracts --
The Valid Contract is an agreement that is legally binding and enforceable. It must qualify all the essentials of a contract.
🔴 Void Contract Or Agreement ---
The section 2(j) of the Act defines a void contract as “A contract which ceases to be enforceable by law becomes void when it ceases to be enforceable”. This makes all those contracts that are not enforceable by a court of law as void.
🗣️ Example: A agrees to pay B a sum of Rs 10,000 after 5 years against a loan of Rs. 8,000. A dies of natural causes in 4 years. The contract is no longer valid and becomes void due to the non-enforceability of the agreed terms.
🔴 Voidable Contract --
These types of Contracts are defined in section 2(i) of the Act: “An agreement which is enforceable by law at the option of one or more of the parties thereto, but not at the option of the other or others, is a voidable contract.” This may seem difficult to wrap your head around but consider the following example:
🗣️ Suppose a person A agrees to pay a sum of Rs. 10,0000 to a person B for an antique chair. This contract would be valid, the only problem is that person B is a minor and can’t legally enter a contract.
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🔴 This video might be useful for students preparing for -
🗣️ 11th Commerce #11thcommerce
🗣️ 12th commerce boards #12thcommerce
🗣️ CSEET(CS FOUNDATION ICSI) #cseet
🗣️ CA Foundation #cafoundation
🗣️ UGC NET COMMERCE #ugcnetcommerce
🗣️ LLB #llb
🗣️ UGC NET LAW #ugcnetlaw
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🔴 In this video - #padhakulog
Teacher's Name - CS Payal Popli
Topic - Types of Contract | Valid Contract | Void Contract | Voidable Contract
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[@LuckyKumar-vn2dr]

Nice explanation 👌🏻

[@AmanSingh-t3z8w]

Please Upload More videos on Indian Contract act, I got what you say

[@AakritiChandra-o5d]

Mam graduation ki sari subject padhaya kare bcom ke

[@AakritiChandra-o5d]

Mam aap to magnet brain me thi na

[@Someshrajspeak]

Mam please add English subtitles also🙏

[@Mellow_beats_station03]

No mam hindi achcha hai

[@naamnhipta4482]

Wattt is thiss yll double double awajj kahe dalte ho aj sasur examm haii ka hoga humar