Similarities:
Restitution – If any benefit is passed between the parties, void and voidable contracts may be restored back.
Differences
Definition – When a contract ceases to be enforceable at law, it becomes void contract. Voidable contract is a contract which is enforceable by law at the option of one or more parties thereof, but not at the option of others.
Status – A void contract cannot create any legal rights. It is a total nullity. A voidable contract takes its full and proper legal effect unless it is disputed and set aside by the person entitled to do so.
Nature – A void contract is valid when it is made. But subsequently it becomes void due to one reason or the other. A contract may be voidable since very beginning, or may subsequently become voidable.
Rights – A void contract is valid when it is made. But subsequently it becomes void due to one reason or the other. A voidable contract gives rights to the aggrieved party to rescind the contract, and claim the damages, etc. in certain cases.
Effect – When a contract is void because of illegality, its collateral transactions also becomes void. A voidable contract does not effect the collateral transactions.
What is Quasi Contract? What are the different types of Quasi Contracts.
Differences
Definition – When a contract ceases to be enforceable at law, it becomes void contract. Voidable contract is a contract which is enforceable by law at the option of one or more parties thereof, but not at the option of others.
Status – A void contract cannot create any legal rights. It is a total nullity. A voidable contract takes its full and proper legal effect unless it is disputed and set aside by the person entitled to do so.
Nature – A void contract is valid when it is made. But subsequently it becomes void due to one reason or the other. A contract may be voidable since very beginning, or may subsequently become voidable.
Rights – A void contract is valid when it is made. But subsequently it becomes void due to one reason or the other. A voidable contract gives rights to the aggrieved party to rescind the contract, and claim the damages, etc. in certain cases.
Effect – When a contract is void because of illegality, its collateral transactions also becomes void. A voidable contract does not effect the collateral transactions.
What is Quasi Contract? What are the different types of Quasi Contracts.
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Difference between Void and Voidable Contract
![Difference between Void and Voidable Contract]()
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