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Business Regulatory Framework by Purnakam Dash

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7

Void and Voidable Agreements

CHAPTER OBJECTIVES

A careful study of this chapter will enable you:

  • To know the meaning of void and voidable agreements.
  • To identify the agreements specifically declared void by law.
  • To get a clear meaning of agreements in restraint of marriage and restraint of trade.
  • To explain the agreements by way of wager and their essential elements.
  • To differentiate between wagering agreements and contracts of insurance.
MEANING OF VOID AGREEMENT

A void agreement is one which has no enforceability by law. It is an agreement which is without any legal effects. It does not create any contractual right and obligation. These agreements are void ab initio (from the very beginning). Sec. 10 of the Act has laid down certain ...

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