Voidable Contract
Section 2(i) of the Indian Contract Act 1872 defines voidable contract as:
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;
A voidable contract is a formal agreement between two parties that may be rendered unenforceable for any number of legal reasons, which may include:
Failure by one or both parties to disclose a material fact
- A mistake, misrepresentation, or fraud
- Undue influence or duress
- One party's legal incapacity to enter a contract (e.g., a minor)
- One or more terms that are unconscionable
- A breach of contract
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