20:59
got a random stanford email and almost had a heart attack
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LSDefine
Simple English definitions for legal terms
Voidable
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A quick definition of Voidable:
Voidable: A contract that is considered valid unless one of the parties decides to reject it. This means that some state laws allow minors to either agree or disagree with promises made in a contract, which makes the contract voidable. Voidable means that the contract can be cancelled if one of the parties decides to do so.
A more thorough explanation:
Definition: A contract that is considered valid unless one of the parties has the legal right to reject it. For example, minors may have the option to either accept or reject a contract they have entered into, making it voidable.
Example: A 17-year-old signs a contract to purchase a car from a dealership. However, because the minor is not yet considered an adult, they have the legal right to reject the contract and return the car. This makes the contract voidable.
Explanation: The example illustrates how a contract can be considered voidable if one of the parties has the legal right to reject it. In this case, the minor has the option to reject the contract because they are not yet considered an adult and therefore may not have fully understood the terms of the agreement. This means that the contract is only valid if the minor chooses to accept it, but they have the option to reject it if they wish.